MP Materials Aims to Eliminate America's Rare-Earth Import Dependence by 2028

The U.S. government is backing MP Materials' new rare-earth magnet factory in Texas to boost domestic production.

Published on Mar. 9, 2026

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Less than a year after the U.S. government promised MP Materials a loan and investment to build a new rare-earth magnet factory, the company is ready to begin construction on the 120-acre facility in Northlake, Texas. The new factory, called 10X, is scheduled to start production in 2028 and is expected to cover a significant portion of America's rare-earth metals demand, helping reduce the country's reliance on imports from China.

Why it matters

For decades, China has controlled around 70% of rare-earth extraction and 90% of rare-earth processing globally, giving it significant leverage over the rare-earth supply chain. This has sometimes led China to restrict rare-earth exports, stifling international investment in the industry. The new MP Materials factory aims to help the U.S. become more self-sufficient in rare-earth production, reducing its dependence on China.

The details

MP Materials' new 10X factory in Texas will have the capacity to produce 10,000 tons of rare-earth magnets annually. The company says engineering and equipment procurement is already underway, and the factory is scheduled to begin production in 2028. Analysts project the new facility will quadruple MP Materials' revenue to over $1 billion by 2028 and increase its profits sixfold to $1.44 per share, with further growth expected in the following years.

  • In July 2025, the Trump Administration Department of Defense announced plans to accelerate American supply chain independence for rare-earth materials.
  • Last week, MP Materials announced it has chosen a 120-acre site in Northlake, Texas to build its new 10X rare-earth magnet factory.
  • The 10X factory is scheduled to begin production in 2028.

The players

MP Materials

An American company that operates the only rare-earth mining and processing facility in the Western Hemisphere, located in Mountain Pass, California.

Trump Administration

The former U.S. presidential administration that announced plans to accelerate American supply chain independence for rare-earth materials.

Rare Earth Exchanges

A research firm that tracks the rare-earth metals market, forecasting 17% annual growth in direct-use magnet demand.

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What’s next

MP Materials has not provided a specific timeline for when the 10X factory will reach full production capacity, but analysts expect the new facility will help the company significantly increase its revenue and profits in the coming years as it works to reduce America's dependence on rare-earth imports.

The takeaway

The construction of MP Materials' new rare-earth magnet factory in Texas, backed by the U.S. government, represents a major step towards reducing America's reliance on China for critical rare-earth materials needed for electric vehicles, wind turbines, and advanced defense technologies. This move aims to bolster domestic supply and lessen the leverage China holds over the global rare-earth supply chain.