MP Materials begins rare earth metal production; mining company’s Fort Worth, Texas, facility will make magnets and metals used in vehicles, drones, robotics and electronics

  • 1/29/2025

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Dive Brief:
Mining company MP Materials began commercial production of the rare earth metal neodymium-praseodymium at its facility in Fort Worth, Texas, according to a Jan. 22 press release. The metal will be used in electric vehicle motors and generators, along with other industries. 
The facility is also in the trial production phase of automotive-grade neodymium-iron-boron (NdFeB) magnets, with the first deliveries planned by the end of 2025.
The Fort Worth facility will supply magnets to General Motors and other manufacturers, aiming to produce approximately 1,000 metric tons of finished magnets annually, the release stated.

MP Materials Corp (NYSE: MP)
James H. Litinsky | Founder, Chairman & CEO

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