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Stock impact report

MP Materials execs share next steps for $1.3B Texas rare earth magnet site [Yahoo! Finance]

MP Materials Corp. (MP) 
Company Research Source: Yahoo! Finance
This story was originally published on Manufacturing Dive . To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter Dive Brief: MP Materials announced on Feb. 26 that it has chosen Northlake, Texas , as the site for its $1.25 billion rare earth magnet manufacturing campus. The site, dubbed 10X, is expected to add to MP's annual production capacity of approximately 10,000 metric tons of neodymium-iron-boron, or NdFeB, rare-earth magnets, according to the press release. Construction is forthcoming, though engineering and equipment acquisition are underway and a date was not disclosed. The campus is anticipated to create more than 1,500 manufacturing and engineering jobs and commissioning is set to begin in 2028. Dive Insight: The 10X manufacturing campus is part of MP's 10-year agreement with the Department of Defense, signed in July 2025 , to accelerate a build-out of an end-to-end domestic rare earth magnet supply chain. The deal also Show less Read more
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