Reshoring Of The US Rare Earth Magnet Industry

Over the last couple of years, politically, there has been an enormous groundswell of interest from the business community and numerous investment entities in reestablishing the Rare Earth (RE) supply chain to the US/North America. Much effort and resources have been spent on reports, articles, and meetings. In particular, wresting away China's stranglehold on these critical materials and products has become the Holy Grail.

However, one thing is clear, this is a complex problem, and it will require a holistic approach from all stakeholders, from miners, alloy producers, magnet makers, R and D institutions, investors, government, and arguably most critical, the magnet using (particularly the large OEM's) community. Also, since the NdFeB industry left the US over 25 years ago, we have a shortage of skilled technical and manufacturing people at all levels, which may be the most difficult nut to crack.

Investments in NdFeB Magnet Facilities

During 2022 we have seen some major announcements regarding investments in significant NdFeB magnet facilities in the US. Press releases from MP Materials and Vacuumschmelze announcing supply agreements with General Motors sourcing magnets for their EV motor production. MP Materials has now broken ground on a 300,000 sq foot facility in Fort Worth,…