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,

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.