Vulcan Elements plans $920M rare-earth magnet factory in Benson, NC

Vulcan Elements is building a $920 million rare-earth magnet factory in Benson, North Carolina, with the state fast-tracking a power line for the project. The plant aims to reduce U.S. reliance on Chinese rare-earth magnets.

“Vulcan Elements, the company behind the $920 million plant, isn't just another manufacturer.”springfieldohio.org

• 4 sources
• springfieldohio.orgNC Fast-Tracks Power Line for $920M Rare-Earth Magnet Factory | National Security & Job Boost (2026)Terence Hammes MDNov 5, 2026
• gspcsa.orgNC Fast-Tracks Power Line for $920M Rare-Earth Magnet Factory | National Security & Job Boost (2026)Nathanael BaumbachNov 5, 2026
• calegiondistrict13.orgNC Fast-Tracks Power Line for $920M Rare-Earth Magnet Factory | National Security & Job Boost (2026)Moshe KshlerinNov 5, 2026
• thegvt.orgNC Fast-Tracks Power Line for $920M Rare-Earth Magnet Factory | National Security & Job Boost (2026)Dong ThielNov 5, 2026

Summarized from public sources; check the original articles before acting on it.