# MP Materials begins construction on rare earth magnetics factory in Fort Worth, Texas

MP Materials has started construction on a rare earth metal, alloy, and magnet manufacturing facility in Fort Worth, Texas, as part of a $700 million investment to restore the U.S. rare earth magnetics supply chain. The facility will create 150 direct jobs and 1,300 indirect jobs.

- Type: New facility
- Announced: 2022-04-21
- Where: Fort Worth, Texas, United States
- Value: $700.0M
- Jobs: 150
- Starts operating: Q4 2023
- Status: under construction
- Capacity: approximately 1,000 tonnes of neodymium-iron-boron magnets per year
- Products: rare earth metal, alloy, neodymium-iron-boron magnets
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [MP Materials](https://endata.com/companies/37829.md)

## Sources

- [investors.mpmaterials.com](https://investors.mpmaterials.com/investor-news/news-details/2022/MP-Materials-Begins-Construction-on-Texas-Rare-Earth-Magnetics-Factory-to-Restore-Full-U.S.-Supply-Chain/default.aspx), 2022-04-21: "MP Materials Corp. today commemorates the start of construction at its first rare earth metal, alloy, and magnet manufacturing facility, located in Fort Worth, Texas."
- [miningconnection.com](https://miningconnection.com/longwall/news/article/mp_materials_begins_construction_on_texas_rare_earth_magnetics_factory), 2022-05-13: "MP Materials Corp. has commemorated the start of construction at its first rare earth metal, alloy, and magnet manufacturing facility, located in Fort Worth, Texas."
- [miningconnection.com](https://miningconnection.com/coal_prep/news/article/mp_materials_begins_construction_on_texas_rare_earth_magnetics_factory), 2022-05-13: "MP Materials Corp. has commemorated the start of construction at its first rare earth metal, alloy, and magnet manufacturing facility, located in Fort Worth, Texas."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.