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Benson NdFeB Magnet Manufacturing PlantVulcan Elements—Vulcan and Ucore sign MoU to build integrated domestic rare earth magnet supply chainBenson NdFeB Magnet Manufacturing PlantVulcan Elements—Vulcan Elements selects Benson, North Carolina for 10,000 metric ton magnet facilityBenson NdFeB Magnet Manufacturing PlantVulcan Elements—North Carolina approves power line construction to support Vulcan Elements magnet plantVulcan Elements—Vulcan Elements and ReElement receive $1.4B government partnership for rare earth supply chain

Benson NdFeB Magnet Manufacturing Plant

by Vulcan ElementsUS

Vulcan is building a 10,000 metric ton per year magnet facility in Benson, North Carolina, the largest magnet manufacturing facility outside China. Backed by $1.4 billion in government funding and private capital.

ProtoStage 2 of 5

Design and procurement underway; construction 2026-2027; commissioning 2028; Ucore supply starts 2027.

Updated Aug 2026Checked 10 Oct0 updates this week

Milestones

Next · Initial Ucore rare earth oxide samples received
  1. Vulcan Elements founded2023Complete.
  2. Benson, NC site selectedNov 2025Complete.
  3. $1.4B government + private funding securedNov 2025Complete.
  4. NC power line approval for plant constructionAug 2026Complete.
  5. Initial Ucore rare earth oxide samples receivedTarget 2026Current milestone.
  6. Magnet plant groundbreaking and constructionTarget 2026Not yet reached.
  7. Commercial Ucore supply beginsTarget 2027Not yet reached.
  8. Magnet facility commissioningTarget 2028Not yet reached.

Most important updates

Upcoming

  1. 2026Initial Ucore rare earth oxide samples received (next)
  2. 2026Magnet plant groundbreaking and construction
  3. 2027Commercial Ucore supply begins
  4. Mar 2027Power line construction completed for Benson plant
  5. 2028Magnet facility commissioning
Primer