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(JUST THE NEWS) – Instead of relying on China to source and manufacture the materials needed for a range of products including electric vehicles, drones and wind turbines, U.S. companies like Las Vegas-based MP Materials and AllianceTexas are creating a U.S.-based alternative.
MP Materials broke ground on its first rare earth metal, alloy and magnet manufacturing facility in Fort Worth, Texas, Thursday. It the first-of-its kind facility to be built in Texas, and in the U.S.
“Bringing magnetics capabilities home is transformational for MP Materials and America's supply chains,” James Litinsky, chairman and CEO of MP Materials, said. His company “is leading the restoration of the full supply chain and the revitalization of the American manufacturing spirit in our sector.”
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