MP Materials Commits $1.25B for '10X' Rare Earth Magnet Campus in Texas
MP Materials will invest $1.25 billion to build its '10X' rare earth magnet manufacturing campus in Northlake, Texas, leveraging Mountain Pass mine feedstock processed in California. The facility will vertically integrate magnet production domestically, targeting supply for automotive and defense markets and reducing reliance on foreign suppliers.
1. Campus Selection and Investment
MP Materials has selected Northlake, Texas, as the location for its '10X' rare earth magnet manufacturing campus after committing $1.25 billion in capital expenditure. The site will house separation, refining, and magnet assembly operations using rare earth feedstock sourced from the Mountain Pass mine in California.
2. Supply Chain Integration and Market Focus
The '10X' facility will integrate rare earth separation, refining and magnet assembly under one roof, cutting out foreign intermediaries and improving control over critical materials. Its output will target electric vehicle powertrains and defense-grade applications, strengthening MP Materials' position in high-growth sectors.