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By Shane Lasley
Metal Tech News 

Rare earth supply for USA magnet plant

Metal Tech News - August 4, 2023


Last updated 8/16/2023 at 11:08am

An EV motor with casing partially cutaway to show the internal parts.

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The average passenger electric vehicle motor uses between four and 12 pounds of rare earth magnets, which is driving enormous demand for the magnets USA Rare Earth will produce at its new plant in Stillwater, Oklahoma.

USA Rare Earth has entered a deal with Australian Strategic Materials to supply magnet rare earths for Oklahoma plant.

With its sights set on producing rare earth magnets at its new Oklahoma plant next year, USA Rare Earth LLC has entered into a multi-year supply agreement with Australian Strategic Materials Ltd., a producer of metals for clean energy and high-tech devices.

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