USA Rare Earth achieves milestone with its first sintered rare earth magnet production in Oklahoma
January 14, 2025
USA Rare Earth, LLC, a company building a domestic rare earth magnet supply chain from mine to magnet, based in Tampa, Florida, USA, has announced the successful production of its first batch of sintered permanent rare earth magnets at its new Innovations Lab, currently under development in Stillwater, Oklahoma, USA.
USA Rare Earth’s Innovations Lab, once fully commissioned, will produce prototype rare earth magnets for the company in support of customer sales, product quality management, and advancement of new innovations in rare earth magnet production.
“I couldn’t be prouder of the work of our incredible team in Stillwater, led by Bob Fredette, one of the leading magnet experts in the United States. Our new Innovations Lab, which we will finish building out in the coming months, is already flexing its muscles, helping us achieve a key step in our company’s evolution,” said Joshua Ballard, CEO. “We will soon begin producing customer prototypes in support of future sales as we work towards starting commercial production at our manufacturing facility in 2026.”
China currently dominates the global rare earth magnet market, posing a significant vulnerability for US industries and national security. Rare earth magnets are essential for a wide range of applications, including:
- Defence: Missile guidance systems, radar, and other critical military technologies.
- Automotive: Electric vehicles, hybrid vehicles, and advanced driver-assistance systems.
- Renewable Energy: Wind turbines and other clean energy technologies.
- Electronics: Consumer electronics, industrial automation, and medical devices.
The company previously announced that it has 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.
