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Oklahoma state leaders secure first domestic rare earth metal, magnet manufacturing facility

Kevin Stitt
Posted at 12:12 PM, Jun 09, 2022
and last updated 2022-06-09 13:12:16-04

STILLWATER, Okla. — State leaders came together to announce Oklahoma is now the new home to the first rare earth metal and manufacturing facility in the Americas.

Gov. Kevin Stitt and the Oklahoma Department of Commerce say USA Rare Earth is set to develop the first fully integrated U.S.-based rare earth metal and sintered neo-magnet facility in Oklahoma.

The company has chosen Stillwater to be its home base for future operations.

“Currently, the United States, European Union, Japan, and much of the developed world is largely reliant on China for critical rare earth element production,” said Thayer Smith, president of USA Rare Earth. “Our goal with this project is to advance U.S. manufacturing capacity by establishing the first vertically integrated domestic supply chain for rare earth elements, and we are excited to be working in Oklahoma.

USA Rare Earth plans to invest more than $100 million in developing the manufacturing facility. Some of its operations include converting rare earth oxides into metals, magnets, and other materials.

The operations will be set to contribute across multiple industries such as electric vehicles, wind turbines, mobile electronic devices, military hardware, and more.

Production at the Stillwater facility is expected to start in 2023 with the expectation to create more than 100 new jobs to start.

“Oklahoma has long been on the cutting edge of energy innovation, and this project embodies the energetic, forward-thinking mentality of our state,” said Gov. Kevin Stitt. “The USA Rare Earth project will help our state remain a leader in domestic energy production, further diversifying our economy while reducing U.S. dependence on foreign imports.”

With Oklahoma State University nearby, state leaders say having access to ongoing research will help for future development and innovation of rare earth elements and their uses.

For more information on USA Rare Earth, click here.

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