U.S. Rare Earth Magnet Supply Chain — Volume & Stage Table

All 17 tracked companies sorted by current production volume, stage maturity, segment, or projected capacity. Click any column header to sort. Use filters to narrow by segment or maturity status.

17 companies tracked · Click headers to sort · Data current through August 2026

The Rare Earth Permanent Magnet Supply Chain

♻ End-of-Life Recycling re-enters the pipeline at Separation / Midstream, reducing dependence on primary mining.

Stage Maturity

Commercial — Operating at scale with revenue
Commissioning — Facility built, in ramp phase
Pilot / Demo — Small-scale operations underway
Development — Under development; no commercial output
Announced — Intent stated; no development underway
Paused / Suspended — Operations halted
Segment
Maturity
Showing 17 of 17 companies
Company Segment Maturity Key Stages Current Volume Projected Volume Target Year
MP Materials Corp.
NYSE: MP
Las Vegas, NV / Fort Worth, TX
Upstream Midstream Downstream Commercial / Commissioning Mining Separation RE Oxides Re-metal Magnet Mfr
~1,000
MT/yr NdFeB magnets (Fort Worth) 917 MT NdPr oxide Q1 2026 (record); Q2 2026 NdPr production 840 MT (+41% YoY), revenue $108.5M (+89% YoY)
~11,000
MT/yr magnets (Fort Worth + Northlake) 10,000 MT/yr Northlake plant broke ground 2026; commissioning slated to begin 2028
2028+
USA Rare Earth, Inc.
NASDAQ: USAR
NY / Stillwater, OK / Hudspeth, TX / UK
Upstream Midstream Downstream Commercial / Commissioning Separation (LCM, UK) Alloy & Powder Magnet Mfr Mining (dev.)
~600
MT/yr NdFeB magnets (Phase 1a) Stillwater, OK — commercial since March 2026; targeting 600 MTPA run-rate by Q4 2026 (Q2 2026 earnings). New CEO Thras Moraitis takes over Oct 1, 2026
10,000
MT/yr magnets (Stillwater + Blacksburg SC combined) 3,600 MT/yr Stillwater + 6,400 MT/yr new Cherokee Co./Blacksburg, SC site (selected June 2, 2026)
2028+
eVAC Magnetics LLC
Private / VAC (DE)
Sumter, South Carolina
Downstream Commissioning Magnet Mfr (NdFeB)
2,000
MT/yr NdFeB (target Q1 2026) First US NdFeB sale Dec 2025; ramp ongoing
12,000
MT/yr NdFeB $500M+ total investment; $111.9M QAEP tax credit; parent VAC subject to pending acquisition by Energy Fuels (announced Jun 23, 2026; close early 2027)
2029
Noveon Magnetics, Inc.
Private
San Marcos, Texas
Downstream Commercial EOL Recycling Alloy (M2M®) Magnet Mfr Assembly
~2,000
MT/yr NdFeB (ramping) Recycled feedstock via GBE® + M2M® process
10,000
MT/yr NdFeB San Marcos facility designed capacity; $215M Series C Jan 2026
2028+
Energy Fuels Inc.
NYSE: UUUU
White Mesa Mill, Utah
Midstream Commercial / Pilot→Com Separation (LREE) Separation (HREE) RE Oxides Reduction (via ASM)
~500
MT/yr NdPr oxide (est. current) Only US commercial HREE oxide producer (Dy, Tb). Q2 2026 revenue $25.1M; White Mesa heavy-REE plant construction began Jul 29, 2026
850–1,000
MT/yr NdPr + 35 MT Dy + 12 MT Tb Phase 1 from ~10,000 MT/yr monazite input; pending acquisition of VAC/eVAC (announced Jun 23, 2026) would add 12,000 MT/yr downstream magnet capacity. ASM acquisition shareholder-approved Aug 12, 2026; close expected Aug 28, 2026
2027
Arnold Magnetic Technologies
Sub. of NYSE: CODI
Rochester, New York
Downstream Commercial Magnet Mfr (NdFeB) Magnet Mfr (SmCo) Assembly Undisclosed Commercial scale; 130-year history; DFARS transition underway Undisclosed USAR/LCM ex-China alloy supply agreement Mar 2026 2027
DFARS deadline
Electron Energy Corporation
Private (Tinicum PE)
Landisville, Pennsylvania
Midstream Downstream Commercial / Commissioning Alloy & Powder Magnet Mfr (SmCo) Magnet Mfr (NdFeB) Undisclosed Only DFARS-compliant US SmCo producer; capacity doubled 2025 Undisclosed NdFeB DFARS compliance targeted mid-2026 2026
NdFeB DFARS
Lynas Rare Earths — US Ops
Parent: ASX: LYC
Hondo, TX / Seadrift, TX
Midstream Commissioning / Paused ⚠ Separation — LREE Separation — HREE ⚠
0
MT/yr (pre-production) Hondo commissioning FY2026; Seadrift construction halted
5,000
MT/yr NdPr (Hondo) ⚠ Seadrift (2,500–3,000 MT/yr HREE) still "unlikely to proceed" (Jul 2026); near-term DoD offtake instead covered by Mar 2026 ~$96M global-supply LOI
2026
Hondo only
Phoenix Tailings, Inc.
Private (BMW, Yamaha)
Burlington, MA / Exeter, NH
Midstream Pilot / Demo Reduction / Re-metal
~200
kg/yr RE metals (actual, Fortune Aug 2026) Exeter, NH facility opened Oct 2025; zero Chinese inputs
⚠ Company's Oct 2025 launch target was 200 MT/yr (1,000x this actual figure) — not yet reached
120
MT/yr RE metals (2027–28 target, Fortune) Interim milestone: 5 MT/yr within 3 months of Aug 2026 article. Financed by $500M DoD loan (Freedom Facility, 14–18mo build). Original company target at 2025 launch: scale to 1,000+ MT/yr, stated as sufficient for entire US defense RE metals need — not yet substantiated against actual output
2027–28
ReElement Technologies Corp.
Parent: NASDAQ: AREC
Noblesville, IN / Marion, IN
Midstream Pilot → Commercial Separation (chrom.) RE Oxides (99.5–99.999%) Undisclosed Noblesville pilot; first commercial revenues targeted 2026. Marion: first commercial-scale germanium column commissioned Aug 7, 2026 (largest planned chromatography column); Minor Source air permit secured Aug 19 for 4 planned lines (Ge, Ga, Nd/NdPr/Dy/Tb/Gd/Y/Sm) Undisclosed Marion, IN 400,000 sq ft expansion; $1.4B Vulcan supply agreement; $80M DoD OSC loan dropped by ReElement July 2026 (never disbursed) in favor of equity financing 2026+
Momentum Technologies, Inc.
Private (TechMet, Tailwater)
Dallas / Carrollton, Texas
Midstream Pilot → Commercial Separation (MSX®) RE Oxides (99.9%+) Undisclosed Carrollton commercial-scale processing began Oct 2025 Undisclosed +2 additional plants planned 2027 (one REE, one battery) 2026–27
American Resources / Electrified Materials
NASDAQ: AREC
Fishers / Noblesville, Indiana
Upstream Pilot EOL Recycling (EMCO) Undisclosed RCRA-permitted May 2025; feeds ReElement for separation. Marion Supersite air permit secured Aug 19, 2026 (shared campus w/ ReElement) Undisclosed Expanded pre-processing capacity Mar 2026; volumes not disclosed. EMCO closed $9.5M Series A preferred placement Jul 2026 2026+
Advanced Magnet Lab, Inc. (AML)
Private (RMHC)
Melbourne, Florida
Downstream Pilot Magnet Mfr (PM-Wire™) Undisclosed $2M DLA contract May 2026; specialty geometry NdFeB for defense Undisclosed Qualification phase; scale-up follows DLA contract completion 2027+
Vulcan Elements, Inc.
Private
Research Triangle Park / Benson, NC
Downstream Development Magnet Mfr (planned)
0
MT/yr (pre-production) Groundbreaking expected 2026; 1M sq ft Benson, NC facility
10,000
MT/yr NdFeB $620M DoD OSC loan (reportedly on track, July 2026); $1.4B ReElement supply agreement
2030+
4–6 yrs post-finance
Niron Magnetics, Inc. ⚠️ RE-Free
Private (ARPA-E)
Minneapolis / Sartell, Minnesota
Downstream Development Magnet Mfr (FeN, RE-free)
0
MT/yr (pre-production) Sartell groundbreaking Sept 2025; operations target early 2027; $300M in new financing secured Aug 2026 ($150M DoD OSC conditional loan + $150M Shakopee Mdewakanton Sioux Community loan)
1,500 → 10,000+
MT/yr (Phase 1 → Phase 2) Second 10,000 MT/yr plant in site selection ($1.8B est.)
2027 / 2030+
REalloys, Inc.
NASDAQ: ALOY
Texas / Euclid, OH / Saskatchewan, CA
Midstream Downstream Development Separation (planned) Alloy & Powder (planned) Magnet Mfr (Euclid, OH)
0
MT/yr (pre-production) JOGMEC MOU Oct 2025; first-ever US–Japan RE partnership. Q2 2026: $122.4M cash; selected for exclusive Tooele Army Depot (UT) heavy-REE lease talks (target Sep 2026)
10,000
MT/yr NdFeB + SmCo Japanese technology transfer; production target 2027 (compressed). New (Aug 2026): fully-funded Saskatchewan facility upgrade targets ~525t NdPr metal + 30t Dy + 15t Tb/yr by Q3 2027 (midstream feedstock, separate from magnet capacity above); new Heavy REE Metallization Facility targets ~50t combined Dy/Tb by Q1 2028
2027
Timeline optimistic
US Strategic Metals, LLC
Private
Fredericktown, Missouri
Upstream Midstream Announced EOL Recycling (planned) Separation (announced)
0
MT/yr (MOU stage only) No financing or timeline disclosed; 1,800-acre Madison mine site
Undisclosed NdPr, Dy, Tb oxides from recycled feedstock via Ionic tech TBD