MP Materials magnet manufacturing facility to bring over 100 jobs to North Texas
Construction of a 200,000-square-foot magnet manufacturing facility, owned by mining company MP Materials, is planned to begin in early 2022.
The facility, to be located in the AllianceTexas development in Fort Worth, is expected to bring over 100 skilled jobs, according to a news release from the company.
Greenfield metal, alloy and neodymium-iron-boron magnets will be developed in the facility, which will serve as the business and engineering headquarters for the MP Materials magnetics division, MP Magnetics.
Neodymium permanent magnets are inputs in electric motors and generators that enable electric vehicles, robots, wind turbines, drones, defense systems and other technologies to transform electricity into motion and motion into electricity, according to the release.
MP Materials said the facility will have the capacity to produce around 1,000 tonnes of finished neodymium magnets per year with the potential to power approximately 500,000 electric vehicle motors annually. The magnets produced are expected to support other markets such as clean energy, electronic and defense technologies.
MP Materials announced on Thursday that it entered a binding, long-term agreement with General Motors to supply nationally sourced and manufactured rare earth materials, alloy and finished magnets for electric motors in over a dozen models using GM’s Ultium Platform. A gradual production ramp is expected to begin in 2023.
