All articles tagged with #rare earth materials
Apple has signed a $500 million deal with MP Materials to secure rare earth magnets for its products, aiming to reduce dependence on China by developing US-based supply and recycling capabilities, amidst ongoing trade tensions and supply chain diversification efforts.
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.
Niron, a Minneapolis-based startup, is developing a process to create permanent magnets without using rare-earth materials from China, which pose a national security risk. The demand for permanent magnets, used in everything from electric vehicles to wind turbines to consumer electronics, far outstrips the supply and relies on materials from China. Niron's iron-nitride magnets can already do the job in many cases and it's continuing to improve the technology. The company has raised more than $100 million and plans to open a full-scale production facility within the next three or four years.
China is considering banning the export of certain rare-earth magnet technology to counter the US's advantage in the high-tech arena. Officials are planning amendments to a technology export restriction list, which was last updated in 2020. China dominates the global market for rare-earth materials.