Key metrics

In a time of rising geopolitical tensions, the U.S. could be left without access to critical minerals and rare earth magnets used to enable key commercial and defense technologies.

$19B

(USD)

Current Global RE Magnet Market

16%

United States Share of Global Rare Earth Mining Production

United States Share of Global Rare Earth Refining Production

United States Share of Global Rare Earth Magnet Manufacturing Production

Our Vision

Our vision is to be a leading Western supplier of high-value rare earth magnets and critical minerals.

Magnet Manufacturing

We are building a sintered neo magnet manufacturing facility in Stillwater, OK which is currently planned to go commercial in the first half of 2026. At full capacity, this facility will be able to produce nearly 5,000 metric tons, or hundreds of millions of magnets, annually. We will serve a variety of fast-growing industries, such as defense, robotics, electric vehicles, wind power, appliances, cordless tools and even computing and semiconductors. Our Innovations Lab is being commissioned in Q1 2025 and we expect to begin prototyping to customers in the second quarter.

Metal Making

We are committed to onshoring our rare earth metal making capabilities over the long term either together with our partners, or on our own if necessary. Today, we have offtake agreements in place with partners in the United States and South Korea, with the potential to expand those partnerships as we grow.

Processing

We have been developing our own processing capabilities since 2020 in support of the development of our Texas Round Top deposit at our R&D facility in Wheat Ridge, CO. We have developed a proprietary Continuous Ion Exchange process for rare earth and critical mineral separation in addition to incorporating known and accepted mineral extraction practices, such as heap leaching and solvent extraction.

Mining

Our unique Round Top deposit in West Texas hosts 15 of the 17 rare earth elements, including all heavy rare earth elements, as well as other high-tech metals such as gallium, hafnium, zirconium, beryllium and lithium. Long-term, we intend to use the ore processed from this deposit in our magnet facility in Oklahoma, and supply other industries including the U.S. defense industry, with our critical minerals.

Leading Supplier of Critical Rare Earth Magnets

In a time of rising geopolitical tensions, the U.S. could be left without access to critical minerals and rare earth magnets used to enable key commercial and defense technologies.

Our vision is to be a leading Western supplier of high-value rare earth magnets and critical minerals.

Magnet Manufacturing

Metal Making

Processing

Mining

Stay updated with company developments.

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Leading Supplier of Critical Rare Earth Magnets

In a time of rising geopolitical tensions, the U.S. could be left without access to critical minerals and rare earth magnets used to enable key commercial and defense technologies.

Our vision is to be a leading Western supplier of high-value rare earth magnets and critical minerals.

Magnet Manufacturing

Metal Making

Processing

Mining

Stay updated with company developments.