USA Rare Earth Breaks Ground on $1.2 Billion South Carolina Magnet Hub

Highlights

• USA Rare Earth is building an 800,000-sq-ft rare-earth metal and magnet complex in Blacksburg, South Carolina, with commissioning targeted for 2028.
• The $1.2 billion facility targets 6,400 tonnes per year of sintered neodymium-iron-boron magnets and 5,000 tonnes of strip-cast metal and alloy.
• Combined with its Stillwater, Oklahoma plant, USAR aims for 10,000 tonnes annually of domestically produced magnets.
• The Commerce Department has finalized up to $277 million in incentives and a loan of up to $1.3 billion supporting USAR's mine-to-magnet strategy.
• USAR's Stillwater plant already commissioned an initial commercial magnet line in March 2025, targeting 1,200 tonnes per year by early 2027.