Reports related to this article:
Project(s): View 6 related projects in PECWeb
Plant(s): View 5 related plants in PECWeb
Released April 25, 2024 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Magnets created from rare earth elements such as neodymium and samarium show exceptional strength when compared to ordinary magnets. As the strongest type of magnet available commercially, rare earth magnets are employed in applications where strong magnetic fields are required. These are increasingly used for greener sectors, such as the wind power and electric vehicle (EV) sectors, but also include other segments such as medicine (e.g., magnetic resonance imaging machines), and aerospace and defense applications, such as missile-guidance systems. With their growing use in these continually developing technologies, U.S. manufacturers are underway with a number of projects involving rare-earth magnets production.
Some of these magnet projects, although in their early stages, already have specific markets and clients in mind. For example, e-Vac Magnetics LLC (Elizabethtown, Kentucky) is getting underway with construction on a rare-earth magnet production facility in Sumter, South Carolina. The facility will produce magnets for both defense and automotive applications and will receive $94.1 million from the U.S. Department of Defense to acquire and install manufacturing equipment. In addition to defense applications, e-Vac's grassroot plant also has found a customer in General Motors Company (NYSE:GM) (GM) (Detroit, Michigan), which will use the magnets in a wide range of fully electric and hybrid GM models, including the Chevrolet Silverado, Cadillac Lyriq and Hummer models. Operations are expected to be online in the fall of 2025. E-Vac produces neodymium-iron-boron magnets. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here to view the full report.
Another magnet project is being developed along with the expansion of a rare-earths mine from pilot-scale to commercial-scale. Texas Mineral Resources Corporation (Sierra Blanca, Texas) and USA Rare Earth LLC (New York, New York) completed construction of a pilot-scale rare earth mine and separation facility in Hudspeth County, Texas, in 2022. Having demonstrated the project's technical and economic feasibility, the companies are ready to bring the project to full-scale operations, with an aim of supplying a magnet-production facility in Oklahoma.
Texas Mineral Resources and USA Rare Earth will develop the mine complex as a 7.3 million-ton-per-year open-pit mine to provide more than 2,500 tons per year of rare earth elements from the accompanying separation plant, along with 10,000 tons per year of lithium, beryllium and uranium as byproducts. The mine is expected to have a 20-year life. Enhancing the value of these rare earth elements will be a magnet-production facility in Stillwater, Oklahoma, that will use the elements from the separation plant as feedstock. Construction on the magnet plant began in 2022 and is expected to wrap up this summer, when the plant will begin developing magnets that can be used in numerous applications, including EVs, wind turbines, mobile devices and military hardware. The facility will install a pre-used magnet production line sourced from North Carolina to produce 1,200 tons per year of magnets. Subscribers can learn more by viewing the project reports on the expansion of the mine and separation facility and the magnet-production plant.
Other projects have markets in mind but are still scouting for locations. Last year, for example, South Korean steel giant POSCO (NYSE:PKX) (Pohang, South Korea) and magnet maker STAR Group (Daegu, South Korea) began scouting for locations for a rare-earth magnets plant that would start with an initial production capacity of 3,000 tons per year, with plans eventually to scale up to 5,000 tons per year, enough to power 2.5 million EVs. POSCO and STAR's plant is clearly aimed at the EV market, with sources stating the plant will supply magnets to automakers such as GM, Ford Motor Company (NYSE:F) (Dearborn, Michigan) and Stellantis NV (NYSE:STLA) (Hoofddorp, Netherlands), with hopes to secure orders from other carmakers with a U.S. presence. Subscribers can learn more by viewing the reports on the initial plant construction and planned scale-up.
Not all of the projects are for initial magnet production. Noveon Magnetics Incorporated (San Marcos, Texas) is putting the finishing touches on the expansion of a rare earth magnet-recycling plant in San Marcos. The company is expanding its closed-loop recycling capabilities from 250 tons per day to between 1,000 and 2,000 tons. Noveon procures old magnets that have lost their charge, pulverizing, melting and finally placing the materials in molds to form big blocks. These neodymium-iron-boron blocks are bombarded with magnetic energy, remagnetizing them, after which they are cut into different shapes based on customer needs. Larger blocks can be used in imaging devices, with smaller magnets going toward things like motors. Subscribers can learn more by viewing the project report.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Some of these magnet projects, although in their early stages, already have specific markets and clients in mind. For example, e-Vac Magnetics LLC (Elizabethtown, Kentucky) is getting underway with construction on a rare-earth magnet production facility in Sumter, South Carolina. The facility will produce magnets for both defense and automotive applications and will receive $94.1 million from the U.S. Department of Defense to acquire and install manufacturing equipment. In addition to defense applications, e-Vac's grassroot plant also has found a customer in General Motors Company (NYSE:GM) (GM) (Detroit, Michigan), which will use the magnets in a wide range of fully electric and hybrid GM models, including the Chevrolet Silverado, Cadillac Lyriq and Hummer models. Operations are expected to be online in the fall of 2025. E-Vac produces neodymium-iron-boron magnets. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here to view the full report.
Another magnet project is being developed along with the expansion of a rare-earths mine from pilot-scale to commercial-scale. Texas Mineral Resources Corporation (Sierra Blanca, Texas) and USA Rare Earth LLC (New York, New York) completed construction of a pilot-scale rare earth mine and separation facility in Hudspeth County, Texas, in 2022. Having demonstrated the project's technical and economic feasibility, the companies are ready to bring the project to full-scale operations, with an aim of supplying a magnet-production facility in Oklahoma.
Texas Mineral Resources and USA Rare Earth will develop the mine complex as a 7.3 million-ton-per-year open-pit mine to provide more than 2,500 tons per year of rare earth elements from the accompanying separation plant, along with 10,000 tons per year of lithium, beryllium and uranium as byproducts. The mine is expected to have a 20-year life. Enhancing the value of these rare earth elements will be a magnet-production facility in Stillwater, Oklahoma, that will use the elements from the separation plant as feedstock. Construction on the magnet plant began in 2022 and is expected to wrap up this summer, when the plant will begin developing magnets that can be used in numerous applications, including EVs, wind turbines, mobile devices and military hardware. The facility will install a pre-used magnet production line sourced from North Carolina to produce 1,200 tons per year of magnets. Subscribers can learn more by viewing the project reports on the expansion of the mine and separation facility and the magnet-production plant.
Other projects have markets in mind but are still scouting for locations. Last year, for example, South Korean steel giant POSCO (NYSE:PKX) (Pohang, South Korea) and magnet maker STAR Group (Daegu, South Korea) began scouting for locations for a rare-earth magnets plant that would start with an initial production capacity of 3,000 tons per year, with plans eventually to scale up to 5,000 tons per year, enough to power 2.5 million EVs. POSCO and STAR's plant is clearly aimed at the EV market, with sources stating the plant will supply magnets to automakers such as GM, Ford Motor Company (NYSE:F) (Dearborn, Michigan) and Stellantis NV (NYSE:STLA) (Hoofddorp, Netherlands), with hopes to secure orders from other carmakers with a U.S. presence. Subscribers can learn more by viewing the reports on the initial plant construction and planned scale-up.
Not all of the projects are for initial magnet production. Noveon Magnetics Incorporated (San Marcos, Texas) is putting the finishing touches on the expansion of a rare earth magnet-recycling plant in San Marcos. The company is expanding its closed-loop recycling capabilities from 250 tons per day to between 1,000 and 2,000 tons. Noveon procures old magnets that have lost their charge, pulverizing, melting and finally placing the materials in molds to form big blocks. These neodymium-iron-boron blocks are bombarded with magnetic energy, remagnetizing them, after which they are cut into different shapes based on customer needs. Larger blocks can be used in imaging devices, with smaller magnets going toward things like motors. Subscribers can learn more by viewing the project report.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
