Lates News

US Rare Earth (USAR.O) announced on Tuesday that it will invest $1.2 billion to build a magnet manufacturing and rare earth metals factory in South Carolina to expand its domestic production capacity in the United States. The factory, located in Cherokee County, is expected to produce 6,400 tons of neodymium iron boron (NdFeB) magnets and 5,000 tons of rare earth metals and alloys annually and aims to start production in 2028.