Under the partnership, Vulcan Elements will build and operate a 10,000-metric-ton magnet production facility in the U.S.
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The U.S. Department of Commerce would receive a $50 million equity stake in RTP-based Vulcan Elements, which would produce up to 10,000 metric tons of the material in the next several years.
Vulcan Elements has struck a partnership with the U.S. government and ReElement Technologies to expand domestic rare earth magnet production, the latest effort to secure supplies of critical minerals ...
The funding will support the production of advanced rare earth element separation, metallization and magnet manufacturing capabilities in the United States.