NdFeB magnets

Beijing adds 10 US firms June 22; MOFCOM Announcement No. 26 (June 24, effective July 1) adds whistleblower rewards for illegal exports; Mineral Resources Law in force June 15

Fort Worth 'Independence' facility shipped first magnets December 2025; Q1 2026 NdPr output hit record 917t; Pentagon's $400m equity stake and $110/kg price floor make the US government the underwriter of America's magnet supply

China's April 2025 export controls on seven heavy REEs drove a scarcity premium that sent NdPr from $53/kg in January to $137/kg at end-April, with European ex-China prices reaching six times Chinese domestic levels

CEO Amanda Lacaze says Seadrift construction may not proceed without DoD offtake; Kuantan plant secured a 10-year licence but must eliminate radioactive waste by 2031; Malaysian DoE blocked the planned capacity expansion

The DoD's $110/kg NdPr floor with MP Materials became a template; Washington negotiated allied floors with Mexico, the EU and Japan by February 2026; the One Big Beautiful Bill's Section 20004 appropriated $2bn for a Strategic Resilience Reserve; the G7 Évian declaration committed $64bn across 195 projects

A January 2026 MOFCOM ban on dual-use exports for military end-users in Japan broadened into de-facto supply disruption; Japan's dependence on Chinese rare earths has fallen to 60-70% but the shock hit auto and defence sectors

Niron Magnetics' September 2025 groundbreaking for a rare-earth-free iron nitride magnet plant in Sartell, MN followed a Stellantis partnership; Ola Electric certified ferrite EV motors in India; LFP chemistry now represents 55% of global EV batteries