Rare Earth Magnet Manufacturing Expands as MP Materials Announces Texas Campus
A month after Stillwater-based USA Rare Earth, LLC announced a major move in its production of rare earth magnets, the firm apparently has some major competition making its own significant announcement.
MP Materials Corp. announced it has selected a 120-acre site in Northlake, Texas, in the Fort Worth metro, to develop “10X,” the company’s planned large-scale rare earth magnet manufacturing campus. Located less than 10 miles from MP’s existing Independence facility in Fort Worth, the new campus will cement North Texas as the center of gravity for the United States’ rare earth magnet supply chain.
$1.25 billion investment and major job creation
MP expects to invest more than $1.25 billion in the project and create more than 1,500 direct manufacturing and engineering jobs at the site. The company anticipates breaking ground imminently. Engineering and equipment procurement is well underway, with commissioning set to commence in 2028. The firm said it will be the largest and most strategic U.S. rare earth magnet manufacturing asset in history.
“10X” will significantly expand MP’s fully integrated rare earth magnetics manufacturing platform, which already encompasses mining and refining, metallization and alloying, sintering, finished magnet production, and closed-loop recycling. Once operational, the new campus is expected to contribute to the company’s total production capacity of approximately 10,000 metric tons of NdFeB rare earth magnets per year, dramatically advancing the nation’s ability to produce these strategic components domestically.
Texas incentives support advanced manufacturing
This project is enabled by the State of Texas, Denton County, and the City of Northlake, which have approved a comprehensive incentive package totaling roughly $200 million over more than a decade, including grants, abatements and exemptions. The package includes more than $66 million in grants from the Texas Enterprise Fund (TEF) and Texas Semiconductor Innovation Fund (TSIF), underscoring Texas’ leadership in next-generation manufacturing.
Public-private partnership with federal government
“10X” is a cornerstone of MP’s previously announced public-private partnership with the U.S. Department of War (DoW), which was established in July 2025 to accelerate U.S. rare earth magnet independence. This partnership provides long-term demand certainty to support the rapid build-out of domestic magnet manufacturing capacity, while keeping the 10X facility wholly owned and operated by MP Materials. These magnets underpin technologies central to economic resilience and national security, including drones, robotics, AI data centers, electrification, and advanced semiconductor fabrication.
Oklahoma-based USA Rare Earth expansion continues
Oklahoma’s USA Rare Earth company made its announcement in early February. According to Mining.com, the company also controls the mining rights to the Round Top deposit in West Texas, which contains a significant endowment of heavy rare earths such as dysprosium, terbium, gallium and beryllium. The mine is currently in its engineering phase, targeting first production in 2025/2026, USA Rare Earth has said.
The Stillwater lab was originally intended to enter production last year with a goal of 1,200 tons a year and eventually reaching 4,800 tons. USA Rare Earth said it would invest more than $100 million in development of the Oklahoma lab.
The company previously announced that it had entered into a Business Combination Agreement with Inflection Point Acquisition Corp. II and IPXX Merger Sub, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of Inflection Point, on August 21, 2024, which will result in the combined company being a publicly traded company.