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GM and MP Materials enter long-term supply agreement to scale rare earth magnet sourcing and production in US

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General Motors and MP Materials ( earlier post ) have formed a strategic collaboration to develop a fully integrated US supply chain for rare earth magnets. Neodymium-iron-boron (NdFeB) magnets are critical inputs that enable electric motors to transform electricity into motion.

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GM and Glencore enter multi-year cobalt supply agreement

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Glencore and General Motors announced a multi-year sourcing agreement in which Glencore will supply GM with cobalt from its Murrin Murrin operation in Australia. The company will then expand into magnet manufacturing around 2025 at its new production facility in Fort Worth, Texas.

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US DOD awards MP Materials $35M heavy rare earth processing contract

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It will also enable the company to recycle all recoverable rare earths from end-of-life magnets and magnet production scrap, increasing the resiliency and environmental sustainability of the domestic supply base. Earlier post.). MP Materials’ operations provide certainty of US provenance and sustainability.