USA Rare Earth Inc. will begin commercial shipments of rare-earth magnets in
April, marking a step toward reducing America's reliance on China for these
vital components. Its first production line in Stillwater, Oklahoma, will reach
full capacity of 600 tons per year by December. The company also secured a $1.6
billion non-binding funding deal from the Department of Commerce to build a mine
for magnet production. Rare-earth magnets are crucial in high-tech applications
like cars, wind turbines, and missiles, with geopolitical importance highlighted
by Beijing’s supply restrictions last year.
