MP Materials to Invest Over $1.25B in New Texas Rare-Earth Magnet Factory

The new facility is expected to create over 1,500 jobs and boost U.S. production of critical rare-earth magnets.

Published on Feb. 26, 2026

Got story updates? Submit your updates here. ›

MP Materials, the largest U.S. rare-earth miner, announced plans to invest more than $1.25 billion in a new large-scale rare-earth magnet manufacturing campus in Northlake, Texas. The new "10X" facility will expand the company's existing rare-earth production capacity in North Texas and is part of a partnership with the U.S. Defense Department to advance domestic rare-earth magnet manufacturing.

Why it matters

Rare-earth elements are critical for many high-tech and defense applications, but the U.S. has historically relied on imports, especially from China, for rare-earth processing and magnet production. This new investment by MP Materials aims to bolster U.S. self-sufficiency in this strategic industry.

The details

The new Northlake, Texas facility is expected to come online in 2028 and create more than 1,500 jobs. It will build on MP Materials' existing rare-earth mining and processing operations in North Texas, adding large-scale magnet manufacturing capabilities to the company's vertically integrated supply chain.

  • MP Materials announced the new $1.25 billion investment on February 26, 2026.
  • The new "10X" rare-earth magnet factory is expected to come online in 2028.

The players

MP Materials

The largest rare-earth miner in the United States, with existing operations in North Texas.

U.S. Defense Department

Partnering with MP Materials to advance domestic rare-earth magnet manufacturing capabilities.

Got photos? Submit your photos here. ›

What’s next

MP Materials plans to break ground on the new "10X" rare-earth magnet factory in Northlake, Texas in the coming years, with a target completion date of 2028.

The takeaway

This major investment by MP Materials represents a significant step forward in reducing U.S. reliance on foreign sources of rare-earth elements and building a more robust domestic supply chain for critical materials and components.