MP Materials selects Texas for rare earth magnet manufacturing site
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MP Materials selects Texas for rare earth magnet manufacturing site

By CNBC
February 26, 2026, 9:32 AM EST
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(CNBC) MP Materials to build $1.25 billion rare earth magnet manufacturing facility in Northlake, TX. The new campus, named “10X,” will produce 7,000 metric tons of magnets annually and create 1,500 jobs. US aims to reduce dependence on Chinese supply chains for critical minerals.

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