USA Rare Earth will invest $1.2 billion to build a manufacturing facility in Cherokee County, South Carolina. The project will produce rare earth metals and permanent magnets to strengthen domestic supply chains for the defense, aerospace, electric vehicle, and renewable energy sectors.
The facility expects to create approximately 490 jobs. Production will focus on neodymium-iron-boron (NdFeB) magnets for high-tech applications.
The plant targets an annual output of 6,400 metric tons of magnets. It also aims to produce 5,000 metric tons of rare earth metals and alloys annually. The company plans to begin commissioning the South Carolina operation in 2028.