USA Rare Earth ($USAR) said it will invest approximately $1.2 billion to build a rare earth metals and magnet manufacturing facility in Cherokee County, South Carolina. The project is expected to create about 490 jobs and expand U.S. production of neodymium-iron-boron (NdFeB) magnets and rare earth metals used in defense, semiconductors, AI, aerospace, and energy applications as the company scales its domestic supply chain.
- The facility is expected to produce 6,400 metric tons annually of NdFeB magnets and 5,000 metric tons of rare earth metals and alloys.
- Site work is expected to begin in the coming months, with commissioning targeted for 2028.
- The project complements USAR's Oklahoma magnet facility, which began commercial production in March 2026.
- USAR said combined domestic capacity is targeted to reach 10,000 metric tons annually of magnets and metals.
- Lobbying data shows USAR began federal lobbying activity in 2025, spending roughly $540,000 on efforts supporting the construction of U.S.-based rare earth mining and processing facilities.
Relevant Companies
- USA Rare Earth ($USAR) — The new facility significantly expands domestic magnet and rare earth metal production capacity.
- MP Materials ($MP) — Another major U.S. rare earth producer focused on building a domestic critical minerals supply chain.
- Duke Energy ($DUK) — The utility confirmed power delivery for the South Carolina manufacturing site.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
