The brief

Analyst view

• Largest magnet facility outside China: 10,000 metric tons per year capacity in Benson, NC.
• The $1.4B government partnership includes $620M in DoD loans and $550M private capital.
• Ucore supplies rare earth oxides from Louisiana starting 2027, completing the domestic supply chain.

Technical approach

As reported

Sourcing

Partnership with Ucore for rare earth oxides

Ucore supplies neodymium and dysprosium oxides from Louisiana, processing recycled magnets and rare earth ore.

Manufacturing

NdFeB magnet production at scale

The Benson facility converts rare earth oxides into finished neodymium-iron-boron magnets through metal production, alloy creation and sintering.

Defense focus

Supply to defense and commercial sectors

Magnets are supplied to defense applications (motors, weapons systems) and commercial markets (EVs, wind turbines, electronics).