Wedoany.com Report-Nov. 19, Vulcan Elements announced on Tuesday that it has chosen Benson, North Carolina, as the site for its $1 billion rare earth magnet facility. The company also revealed a $1.4 billion partnership with refiner ReElement Technologies and the US government to scale the development of a domestic rare earth magnet supply chain.

The new facility in Benson will expand Vulcan Elements’ production capacity to 10,000 metric tonnes of rare earth magnets and is expected to create 1,000 new American jobs. The plant is positioned as a critical asset for the US in securing a reliable domestic supply chain for rare earth magnets, which are essential for advanced manufacturing, renewable energy, and defense applications.

John Maslin, CEO of Vulcan Elements, said: “North Carolina is a natural home for Vulcan Elements’ next stage. We need to draw on world-class talent, innovation, and infrastructure as we secure one of the 21st century’s most important supply chains.” He added: “We will tap into the region’s deep bench of experience across industries—from engineers and technicians who understand hardware and manufacturing to military veterans who have spent their careers managing complex supply chains, operating heavy machinery, and serving their country.”

Vulcan entered the US rare earth magnet manufacturing sector earlier this year, signaling a strategic effort to provide domestic production with competitive pricing in the US market and beyond. The company aims to reduce reliance on foreign sources while supporting American manufacturers.

Howard Lutnick, US Secretary of Commerce, commented: “Our investment in Vulcan Elements will accelerate U.S. production of rare earth magnets for American manufacturers. We are laser-focused on bringing critical mineral and rare earth manufacturing back home, ensuring America’s supply chain is strong, secure and perfectly reliable.”

The announcement comes amid global recognition of the strategic importance of rare earth materials. While China currently dominates the global rare earth industry, controlling most of the world’s processing and refining capacity, Vulcan Elements aims to strengthen domestic capabilities and provide a reliable supply for high-tech industries.

The Benson facility will also contribute to workforce development in North Carolina, leveraging local talent and technical expertise to operate and maintain advanced manufacturing processes. The project is expected to integrate advanced manufacturing technologies and sustainable practices to enhance efficiency and reliability across production lines.

Vulcan Elements’ investment reflects a broader trend in the US to onshore critical mineral production and rare earth supply chains. By establishing large-scale production in Benson, the company seeks to meet rising domestic demand for rare earth magnets used in electric vehicles, wind turbines, electronics, and defense systems, while ensuring the supply chain remains resilient and independent.

The partnership with ReElement Technologies and support from the US government are designed to accelerate production timelines and create a strategic domestic resource capable of competing globally. Vulcan Elements’ Benson facility is expected to become operational in the coming years, marking a significant step toward a secure and sustainable US rare earth magnet industry.