"DOD's Initiative to Secure Rare Earth Supply Chain from Mine to Magnet"

The Defense Department is working to establish a "mine-to-magnet" supply chain for rare earth materials, crucial for manufacturing permanent magnets used in various U.S. military weapons systems. With a focus on domestic supply chains, the DOD has awarded over $439 million to develop rare earth element supply chains, aiming to achieve a sustainable, mine-to-magnet supply chain capable of supporting all U.S. defense requirements by 2027. Several companies, including MP Materials, Lynas USA, Noveon Magnetics, TDA Magnetics, and E-VAC Magnetics, have received significant funding to establish rare earth mining, processing, and magnet manufacturing capabilities within the U.S., reducing reliance on foreign sources and enhancing national security.