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MP Materials launches rare-earth magnet initiative
['Sara Samora']
Manufacturing Dive - Latest News
Please let us know if you have feedbackDive Brief:MP Materials has launched a rare-earth magnet initiative in a bid to strengthen the U.S. drone and motors supply chain, according to a July 30 press release .
Dubbed Project Swarm, the initiative will allow drone and motor manufacturers to reserve production capacity at MP Materials’ upcoming $1.3 billion 10X magnet facility in Northlake, Texas.
The supply agreement will also allow companies to make reservations without signing binding purchase commitments.
Project Swarm’s goal is to “aggregate this demand and allow certainty” to allow companies to develop new technologies.
MP mines and processes rare-earth materials at its facility in Mountain Pass, California.