TheTechno Optimist.

Independence Fort Worth Magnet FacilityMP Materials—MP Materials selects 120-acre site in Northlake, Texas for $1.25 billion 10X magnet manufacturing campus

MP Materials

Rare earth mining, magnet manufacturing, Mountain Pass

USpublicest. 2017mpmaterials.com (opens mpmaterials.com)Checked 10 Oct

The brief

Analyst view
  • Mountain Pass is North America's only large-scale rare earth mine and processing facility.
  • Fort Worth Independence began magnet production January 2025 at 1,000 metric tons per year.
  • 10X campus (2028) will add 10,000 metric tons/year backed by a US Department of War partnership.

Technical approach

As reported
Mining

Mountain Pass rare earth mine

MP operates Mountain Pass in California, the only major rare earth mine in North America, extracting rare earth oxides from bastnäsite ore.

Magnets

Rare earth to finished magnets

Fort Worth and 10X convert rare earth metals into neodymium-iron-boron magnets used in EV motors and military systems.

Supply

Direct OEM supply

MP supplies magnets under long-term agreements with General Motors and other manufacturers through direct US supply chains.

Primer