# Zhongke Sanhuan (Beijing)
Beijing Zhong Ke San Huan; vertically integrated sintered NdFeB (~12k+ t/yr). General export license (Dec 2025). H1-2026: domestic motor-magnet partnerships; no overseas plant.
Source: REEx
Fachbeiträge · Aktualisiert September 2026
Atlas der Seltenerdmagnet-Lieferkette
Wer was macht, und wo — vom Erz bis zum fertigen Magneten. Sieben Prozessschritte, 108 Organisationen, 22 Länder, jede Angabe belegt. Nur gesintertes NdFeB und SmCo.
NdFeB
SmCo
Beide
JV / Partner / Tochter
Im Aufbau (▸ Zieljahr)
In Diskussion (◇ Jahr — vor FID, im Bewilligungsprozess oder in der Finanzierung)
Recycling: verwertet Material Dritter
Recycling: nur eigener Produktionsschrott
Nicht verifiziert
Anzeigen
Zusammenarbeit mit Peculiar Materials
Ich halte diese Karte aktuell, weil meine eigene Arbeit davon abhängt. Wenn Sie ein Magnet- oder Seltenerdunternehmen bewerten, einen Lieferanten qualifizieren oder herausfinden wollen, ob ein Plan in der Fertigung umsetzbar ist, ist genau das meine Arbeit.
Producer directory
Every organization on the chart above, in full: what each one does in-house, where it sits on the eight steps, whether it is running today or still being built, and the public source behind each claim. 108 organizations across 22 countries. Every entry has its own link.
China 19 organizations
# Konit
Ningbo · San Huan co.
Separate San Huan company in Ningbo. Sintered NdFeB midstream→assembly.
# Ningbo Yunsheng
Sintered NdFeB (Ningbo + Baotou) ~26k t/yr; also bonded. General export license (Dec 2025). Sep 2026: DELAYED the remaining 10,000 t of its 15,000 t Baotou expansion (Jul 2026, policy/macro uncertainty); pursuing HK listing. No Thailand/Vietnam plant found (SE-Asia trade hits are bonded exports).
Source: REEx Jul-26
# HPMG (Hangzhou Perm. Magnet)
Full sintered NdFeB + SmCo + AlNiCo + assemblies; GBD / low-HRE grades.
Source: chinahpmg
# Chengdu Galaxy Magnets
Bonded + hot-pressed NdFeB (own fast-quench powder) + SmCo; assemblies.
Source: galaxymagnets
# Ningbo Ninggang (NGYC)
SmCo specialist (1:5 & 2:17) since 1987 (~1,500 t/yr); also NdFeB/AlNiCo/ferrite.
Source: ngyc
# Ningbo XMag
Identity confirmed as Ningbo XMag. Sintered NdFeB.
# Earth-Panda
Hefei, Anhui · 688077
Anhui Earth-Panda Advanced Magnetic Material (STAR 688077; Lujiang/Hefei). Sintered NdFeB (main) + SmCo + bonded; machining/surface/recycling + assemblies. National key lab for RE permanent magnets. Recycling: H1 2025 R&D projects recover rare earth from its own grain-boundary-diffusion machining sludge and from end-of-life sintered NdFeB and SmCo product. Disclosed as R&D, not as operating capacity; no tonnage published.
Source: earth-panda FT
# JL MAG
World's largest high-performance NdFeB (Ganzhou/Baotou/Ningbo; 5 plants). Sep 2026: ~40,000 t/yr at end-2025; Baotou Phase 3 (+20,000 t) under construction → ~60,000 t/yr by end-2027. MEXICO project (2023, US$100M; re-scoped Oct 2023 to 1M magnetic assemblies/yr) is ABSENT from the FY2025 annual report — treat as STALLED. ~63% feed from national RE groups; ~30% recycled. No Vietnam plant. Recycling: 5,000 t/yr approved capacity at 51%-owned Yinhai New Materials (Inner Mongolia) for comprehensive utilization of rare-earth product waste; 3,681 t of rare-earth raw material actually recovered in 2025. Feed is its own magnetic sludge and offcuts plus purchased end-of-life magnet steel.
Source: JLMAG AR25 REEx Jul-26 Mexico
# Yantai Zhenghai Magnetic
300224 · Yantai + Nantong
Sintered NdFeB only. ~30,000 t/yr blank capacity (Yantai 18k + Nantong/Rugao 12k; ~85% utilization 2025). GBD heavy-RE-lean grades; >8M EV motor sets/yr; exports ~40% of revenue (+43% 2025). Earlier 36k-by-2026 target softened. NO overseas plant found (a 'Mexico' lead is unsubstantiated).
Source: REEx Jul-26 STCN
# Baotou Tianhe Magnetics
Baotou + Tianjin · sintered SmCo too
Sintered NdFeB (~12,500 t/yr capacity; ~6,200 t output) AND sintered SmCo (~500 t/yr) — one of few Chinese majors with SmCo at scale. Strip-casts in-house and builds its own magnet-making equipment. CNY 900M Inner Mongolia R&D/production base: phase-1 construction from Mar 2026 (~18 months). Offices JP/US/DE.
# Golden Dragon Rare Earth
Xiamen Tungsten · Longyan + Baotou
Wholly owned by Xiamen Tungsten (600549). Genuinely vertical: RE SEPARATION (Fujian/Jiangxi) → metal → alloy → sintered NdFeB blanks → machining. Baotou phase I 5,000 t/yr commissioned Jun 2025 (RMB 462M) toward 20,000 t/yr; further output expansion reported Jul 2026. State-linked national champion. Recycling: subsidiary Yuantong New Materials is engaged in rare-earth secondary-resource recycling (H1 2025 NEEQ report). No capacity or feedstock breakdown published.
Source: REEx Metalnomist
# AT&M (Advanced Technology & Materials)
000969 · Beijing + Antai Beifang (Baotou)
Central-SOE-backed (CISRI orbit). ~12,000 t/yr sintered NdFeB capacity (Feb 2026), incl. Antai Beifang 5,000 t/yr high-end JV with Northern Rare Earth (ramping). >10,000 t shipped 2024. SmCo NOT confirmed in its own disclosures — shown NdFeB only.
# Zhejiang Innuovo Magnetics
000795 · Hengdian Group
Hengdian (Dongyang) — sintered NdFeB ~13,000 t/yr blanks (~80% utilization) +5,000 t expansion from H2-2025 → ~18,000 t/yr; also motors downstream. Bonded NdFeB/ferrite not shown. Has an active LinkedIn company page.
# China Northern Rare Earth
600111 · Bayan Obo / Baotou — upstream anchor
World's largest LREE miner (Bayan Obo) + largest single separator + ~100,000 t/yr magnetic-alloy (strip-cast) capacity (Jun 2025) — the biggest alloying node on earth. Magnet making only via JVs (not drawn): Antai Beifang (w/ AT&M, 5,000 t), Northern Zhaobao (w/ Ningbo Zhaobao, 3,000 t, first batch Oct 2025), Northern Funeng (10,000 t RE metals/FeDy/FeHo, announced May 2026, schedule undisclosed). Recycling: 4,960 t/yr scrap-recovery capacity at subsidiary Xinfeng Xinli, plus 4,000 t REO/yr at Jinmeng under construction. Since 2022 its supply agreements require downstream magnet makers using its PrNd metal to return their production scrap for recovery — a contractual claim on other companies' swarf.
Source: Sina Metalnomist REEx
# China Rare Earth Group
heavy-RE duopoly half · Ganzhou
State group formed 2021: ionic-clay mining (Jiangxi/Guangdong — the Dy/Tb half of China's duopoly), separation, metallization, magnet-alloy production, recycling; GRINM/Grirem R&D arm. Subsidiaries: China Southern RE, Guangdong RE, listed 000831 & 600259. Capacities not disclosed by site. Dominant in Dy/Tb (no non-Chinese supply of scale) and Sm. Recycling: 6,600 t/yr REO from NdFeB scrap at subsidiary Ganzhou Youli, launched Dec 2023 as a 3.7x expansion and billed as China's largest single-site NdFeB scrap recycler. No commissioning announcement has appeared; Youli sits under the unlisted group, so no disclosure obligation forces one.
# Jiangsu Huahong Technology
002645 · Jiangyin + Jiangxi subs · 12,000 t/yr recycled REO
The largest documented rare-earth recycler anywhere. Processes NdFeB magnet scrap and swarf through Jiangxi subsidiaries Ji'an Xintai, Jishui Jincheng and Jiangxi Wanhong. Recycled rare-earth oxide capacity 12,000 t/yr and magnet material capacity 15,000 t/yr; actual 2025 output 8,794 t of rare earth oxides (+71% YoY) and 15,791 t of magnetic materials. That single output figure exceeds the combined announced capacity of essentially every Western magnet recycler. FY2025 group revenue RMB 7.83bn across scrap-steel equipment, auto dismantling and rare earth recycling — not recycling-segment revenue.
Source: SMM SZSE FY2025
# China Rare Earth Tianma
NEEQ 872222 · Liangshan, Shandong · 36,000 t/yr waste feed
Recovers PrNd, Dy, Tb, Gd and Ho oxides plus rare earth metals and alloys from NdFeB production scrap and urban-mining material from e-waste and end-of-life vehicle dismantling. Stated capacity 36,000 t/yr of rare-earth waste processing and 10,000 t/yr of oxide/metal output. Listed on the NEEQ New Third Board and described in Chinese press as a private enterprise; the 中稀 prefix is a naming convention and China Rare Earth Group ownership is NOT confirmed. Liangshan County has no rare earth deposits at all and built its industry purely on secondary feedstock.
Source: Tianma Tencent News
# GEM Co. unverified
002340 · Jingmen + Fengcheng · phosphors + magnet scrap
Recovers separated single rare earth elements above 99.9% purity from phosphor powder in spent rare earth fluorescent lamps and from spent rare earth permanent magnet material, at stated recovery rates above 90% for rare earths. One of few documented phosphor recycling streams still active. No rare-earth capacity is published — GEM's headline tonnage figures are battery and cobalt/nickel recycling and must not be attributed to rare earths. The most detailed public account dates to 2019, so current rare earth throughput is unclear.
Source: China Powder Net GEM FY2025
Japan 8 organizations
# Shin-Etsu Chemical
Integrated: RE-oxide separation/refining → melt/cast/sinter → machining → magnetic-circuit assembly. NdFeB + SmCo. Footprints Japan/China/Vietnam (SMMV, under Vietnam). Sep 2026: Daikin partnership to recycle AC-compressor magnets from 2027. New Fukui refinery = separate row. Recycling: collects magnets generated in its own NdFeB manufacturing process and used magnets returned from customers' processes. Reported as industrial-scale hydrometallurgy running since 2008 in Japan and 2013 in Vietnam; volumes undisclosed. Also the magnet manufacturer in the Daikin/Hitachi/Tokyo Eco Recycle air-conditioner compressor consortium. METI's own certification record (separate critical-minerals and permanent-magnet tracks) confirms the Fukui JPY 17.5bn subsidy (certified 19 May 2026, three weeks before the company's own 11 Jun 2026 press acknowledgment) and two SMMV/Thailand/Philippines permanent-magnet certifications (Apr 2024, ~¥13bn; Apr 2025, amount undisclosed).
Source: Shin-Etsu note METI critical minerals METI permanent magnets
# Shin-Etsu — Fukui refinery
new domestic RE refining
Announced 11 Jun 2026: ~¥35bn (~US$218M) rare-earth refinery/smelter in Fukui — Shin-Etsu's first Japanese RE plant in 18 years, explicitly to cut China dependence after the Apr 2025 export controls. Capacity and start date NOT disclosed; ▸2028 is a provisional placeholder.
Source: Japan Times Fastmarkets
# Proterial (ex-Hitachi Metals)
Invented sintered NdFeB (1982); NEOREC (ferrite excluded). Sep 2026: Proterial (India) Ltd is a bidder in India's ₹7,280 cr REPM scheme (bids opened 13 Aug 2026). Historic China Grove NC (US) site — no evidence of an active sintered line in 2025-26.
Source: note India bids
# Daido Steel / Daido Electronics
NdFeB: hot-deformed (NEOQUENCH-DR, HRE-free) + isotropic bonded; own rapid-quench powder. SmFeN NOT colored as SmCo.
# TDK
buys alloy (e.g. Santoku)
NdFeB + ferrite (ferrite not shown). Starts from PURCHASED alloy → jet-mill, press, sinter, machine, magnetize. Sep 2026: acquired Showa Denko/Resonac's NdFeB magnet-ALLOY R&D business — internalizing alloy know-how, but still shown as buying alloy.
Source: MagneticsMag
# Santoku
alloy supplier — no magnets
Materials supplier (NOT a magnet maker) — direct competitor to Less Common Metals (USARE UK sub). Strip-cast NdFeB alloy + SmCo alloy/powder + RE metals + recycling (Kobe/Miki/Akashi/Tsuruga). Sep 2026: the separation build is a JOGMEC ~¥0.8bn FY2026 grant for domestic refining equipment (mixed RE carbonate → NdPr oxide); site/route/capacity undisclosed. Now traced to METI's own record: 2026重要鉱物第2号-1, ~¥800m, certified 29 Jul 2026. Santoku also holds an earlier, separate METI permanent-magnet-track certification (2024永久磁石第3号-1, 24 Jul 2024, amount undisclosed) — moved ▸2026→▸2027, low visibility. Recycling: a standing Recycling Division recovers neodymium magnet grinding and polishing powder from users or from the open market and converts it back to rare-earth alloy feedstock — third-party feed, not its own scrap. No tonnage published.
Source: Santoku CMF METI critical minerals METI permanent magnets
# Daikin + Shin-Etsu + Hitachi + Tokyo Eco Recycle
consortium · air-conditioner compressor magnets
Announced 14 April 2026 to recover rare earth magnets from compressors in commercial air conditioners, a stream with no prior recovery framework in Japan. Daikin collects used compressors, Tokyo Eco Recycle and Hitachi extract the magnets, Shin-Etsu manufactures new magnets from the recovered material. Daikin's own release, Hitachi's own release, and Japanese trade coverage (Mynavi TechPlus) all describe the same four-company scheme and give no tonnage, compressor-count, or capacity figure anywhere — confirmed by a Japanese-language source pass, not just an English-coverage gap. The '~10,000 compressors/several metric tons a year' figure appears to originate with Argus Media's own reporting, with no company statement in either language corroborating it; treat it as Argus's figure, not a company target. Automated recovery equipment development through 2026, full-scale operations from 2027. Note the participant is Hitachi Ltd, not Proterial.
Source: Daikin 14-Apr-26 Hitachi 14-Apr-26 Mynavi TechPlus Argus
# DOWA Eco-System
TSE 5714 sub · EV drive-motor magnet recovery
Recovers neodymium magnets from end-of-life motors, expanding from household appliance motors to EV drive motors. A household-appliance-motor demonstration began in Akita Prefecture in Nov 2025, and DOWA was selected in Sep 2026 for a Ministry of the Environment program running FY2023-FY2027 to extend recovery to end-of-life vehicle drive motors. No capacity published. A subsidiary of DOWA Holdings, a major established non-ferrous recycler — the clearest Japanese ELV-motor magnet recovery effort with a named corporate owner.
Source: Circular Economy Hub
Korea 4 organizations
# Star Group (SGI) + POSCO Int'l
ALLIANCE (one row). Star Group Industrial / Sung Lim (Daegu, 1994) = Korea's leading sintered-NdFeB producer (~1,000 t/yr Daegu); POSCO Int'l = trading/sales + drive-motor cores. Sep 2026: preparing KOSDAQ listing (NH lead underwriter); low-RE magnets co-developed with Hyundai. US plant STALLED (see United States); Vietnam plant SGI Vina operating.
Source: POSCO G-Enews Jul-26
# LS Eco Adv. Materials (+ LS Eco Energy)
LS Cable & System group. NdFeB magnet JV with VAC → ~1,000 t/yr from 2027 (no 2026 milestone published; VAC's pending sale to Energy Fuels adds ownership uncertainty). Sep 2026: LS Cable confirmed (Apr 2026) a DOMESTIC Korean magnet plant — no capacity/date. Korean metallization ▸2026 unconfirmed (the metal work is at LSCV Vietnam). US Virginia plant slipped to ▸2029 (see United States).
Source: LS C&S KED Apr-26
# JS Link
Yesan · Lynas-backed
Sintered NdFeB maker, Yesan (Chungnam), ~1,000 t/yr, fed exclusively with Lynas NdPr. Lynas took ~4.58% (A$50M) Jul 2026 + exclusive supply to Jan 2038. Building a 3,000 t/yr JV plant in Malaysia (see Malaysia). Linked to REalloys (US) 'complete magnet platform'.
# Energy Fuels — Korean Metals Plant US-owned
ex-ASM · Ochang
Australian Strategic Materials' Ochang plant — acquisition by Energy Fuels COMPLETED 28 Aug 2026. Commercial NdPr metallization + NdFeB strip-cast alloy: 1,300 t/yr alloy today → 3,600 t/yr expansion 'as early as end-2026'; Dy/Tb metallization in development. Largest ex-China/Japan metal-alloy node in Asia. EF plans a replica 'American Metals Plant' (no site/date; InvestorNews reports an initial 2,000 t/yr of alloy, expandable to 4,000 t/yr, though EF's own release gives no figure).
Source: EF 28-Aug-26 ASM KMP
India 5 organizations
# IREL (India Rare Earths)
State miner/separator (monazite/beach-sand). Supplies oxides to India's magnet program. Separation capacity thin vs the 6,000 t REPM target.
# Midwest Advanced Materials (MAM)
Hyderabad. Integrated NdFeB via Molten-Salt Electrolysis (NFTDC tech): oxides (IREL) → metal → alloy → powder → sintered magnet. Rs 1,000 cr; ~500 t/yr → 5,000 by 2030. Sep 2026: NO 2026 progress reporting found (site works/equipment/first magnet); several outlets conflate it with the C-MET Hyderabad government pilot line — moved ▸2026→▸2027.
# REPM scheme awardees (5 × 1,200 t/yr — TBD)
₹7,280 cr national program
Cabinet-approved Nov 2025: 6,000 t/yr integrated sintered NdFeB across up to 5 firms (≤1,200 t each), oxide→alloy→strip-cast→sinter→machine mandated; 2-yr build + 5-yr incentive. Bids closed 12 Aug, technical bids opened 13 Aug 2026 — 20 bidders incl. L&T, Coal India, Neo Performance (Singapore), Proterial India, Lohum, Attero, ReNew, JSW, Vedanta. Awards pending; realistic first output 2028. Sona Comstar separately announced intent (Jun 2025), pre-FID.
# Attero Recycling
New Delhi · e-waste REE, 300 t/yr base
Recovers Nd, Pr, Dy, Ce and Gd from obsolete electronics — hard disk drives, laptops, wearables, earphones — alongside lithium-ion batteries. Announced an expansion from a stated 300 t/yr base to 30,000 t/yr of recycled-content rare earth capacity backed by INR 1 billion (~USD 11.5M) over two years; treat the 30,000 t as an aspirational target, and note how large the jump is relative to the capital committed. Company-wide it processed over 150,000 t of obsolete electronics in its most recent fiscal year — an e-waste figure, not a rare earth figure. Named among the 20 bidders for India's REPM magnet scheme.
Source: Recycling Today
# Lohum unverified
Noida, UP · ECMS-approved, recycled share unverified
A battery recycler moving into rare earths. An announced 2,000 t/yr rare earth magnet plant, INR 500 crore, approved 31 March 2026 under India's Electronics Components Manufacturing Scheme with an expected 25% capex subsidy, targeted at up to 20% of Indian magnet demand by 2027; also an NdPr metallization technology partnership with CSIR-IMMT. Announced and approved, not built. The recycled share of the magnet plant's feedstock is NOT clearly specified in public sources — do not assume it is fully secondary. Named among the 20 bidders for India's REPM scheme.
Source: Business Today
United States 30 organizations
# MP Materials
Mountain Pass (mine+sep) → Independence, Fort Worth TX: molten-salt metal, strip-cast alloy, sinter, machine, magnetize. Sep 2026: Independence magnet production began Dec 2025 (~1,000 t/yr; Q2-2026 still customer-qualification deliveries); Q2-2026 sold 1,006 t NdPr. DoW: $400M pref. equity + 100% offtake on 10X + loans (Jul 2025). Saudi Ma'aden refinery JV = binding term sheet only (Saudi section). 10X = separate row. Recycling: a commercial-scale line at Mountain Pass under construction to process post-industrial and end-of-life magnets and magnet scrap, alongside short-loop and long-loop circuits in Texas and California taking scrap from MP's own magnet production. No recycling throughput published — the 10,000 t/yr figure is magnet capacity.
# MP Materials — 10X (Northlake, TX)
10,000 t/yr campus
Site selected 26 Feb 2026: Northlake TX (120 acres, <10 mi from Independence). >$1.25B + ~$200M TX incentives; ~10,000 t/yr NdFeB incl. GBD; 1,500+ jobs; closed-loop recycling. DoW 100% offtake. Commissioning begins 2028; CEO (Aug 2026): 'construction accelerated'. Largest announced Western magnet plant. Recycling: scrap from Texas magnet production feeds MP's short-loop and long-loop recycling circuits in Texas and California. No third-party feedstock attached to this campus in the public release.
# USA Rare Earth
Stillwater OK (u/c) + Round Top TX
Stillwater OK sintered NdFeB — drawn UNDER CONSTRUCTION: Phase 1a line commissioned 26 Mar 2026 but not at commercial output; 600 t/yr run-rate targeted Q4-2026; local press disputes the ramp. Round Top TX mine ▸late-2028 (pulled forward 2 yrs; DFS Q4-2026; 100% owned after TMRC deal Aug 2026). Dashed = subsidiaries/partners: Less Common Metals (UK, own row), Wheat Ridge CO demo (Dy/NdPr oxide from scrap), Carester FR (13.6% stake Jul 2026). Sep 2026: SERRA VERDE (Brazil mine) combination COMPLETED 4 Sep 2026 — see Brazil. Blacksburg SC plant = separate row. Q2-2026 revenue miss = funding-risk watch item. Recycling: the Wheat Ridge, Colorado hydromet demonstration line, commissioned June 2026, has produced commercial-grade Dy and NdPr oxide from NdFeB swarf generated at its own Stillwater plant. The company projects swarf could support up to 30% of future feedstock needs — a projection, not capacity. End-of-life magnets named only as a future option.
Source: USARE Q2-26 Serra Verde
# USA Rare Earth — Blacksburg, SC
6,400 t magnets + 5,000 t alloy
Site selected 2 Jun 2026; GROUNDBREAKING 9 Sep 2026. Bailey Industrial Park, Cherokee County SC: 124 acres / 800,000 sq ft, ~$1.2B, ~490 jobs. 6,400 t/yr sintered NdFeB + 5,000 t/yr strip-cast metal & alloy; commissioning 2028. With Stillwater expansion → 10,000 t/yr USARE magnet capacity.
Source: GNW 9-Sep-26
# Noveon Magnetics
San Marcos TX; only long-running US sintered NdFeB maker (~2,000 t/yr); recycled + primary feed (Lynas, Solvay). Customers GM, ABB Motion, Nidec (>1,000 t binding). Sep 2026: $215M Series C (Jan 2026, OneIM) to expand San Marcos 'beyond 2,000 t' — on-site, no dated capacity target (10,000 t ambition undated, ▸~2028 low confidence). Korea: 2,000 t/yr plant MOU w/ Kangwon Energy (Nov 2025, MOU only); LG closed-loop recycling. Don't confuse with Niron (disregarded). Recycling: feedstock is recovered end-of-life magnetic material from motors, energy systems, MRI, data storage and hybrid/EV drivetrains. The recycled fraction is not published — Noveon states it can manufacture from virgin material, recycled content or a combination.
# Vulcan Elements + ReElement
LAB SCALE today (~10 t/yr Durham)
ALLIANCE (one row). Vulcan = sintered NdFeB at LAB / pilot scale only (Durham NC, ~10 t/yr; not a commercial producer today) — commercial capacity is the Benson NC plant (▸2028, separate row). ReElement (dashed) = Marion IN separation/refining + recycling — minor-source air permit for all lines (19 Aug 2026), $25M DoW award (Jul 2026), first Ge column Aug 2026. Benson NC 10,000 t plant = separate row. NB: ReElement also in the POSCO separation JV (below). Recycling: ReElement refines rare earth from secondary feedstock it did not produce — end-of-life magnets, hard drives, EV motors, wind turbines, industrial scrap, plus e-scrap aggregated by ERI — and takes back Vulcan's own magnet manufacturing scrap. Marion Phase 1 announces a line of up to 7,000 t/yr separated oxide from recycled feedstocks.
# Vulcan Elements — Benson, NC
10,000 t/yr · $1.4B US-gov't package
Johnston County NC selected 18 Nov 2025: ~$918M–1B, 1.1M sq ft, 10,000 t/yr, ~1,000 jobs. Funding: $620M DoD Office of Strategic Capital loan + $50M Commerce equity + $120M NC incentives + ~$550M private (Mar 2026). Ucore feedstock deal (Mar 2026). NO groundbreaking announced as of Aug 2026 (site page still future-tense); ~1,000× scale-up from today = largest execution risk on the map. ▸2028 first magnets.
Source: PRN Nov-25 Benson page Axios
# Energy Fuels / eVAC
Energy Fuels: monazite (FL/GA) → White Mesa UT sep (Phase 2 → 6,000 t NdPr by mid-2029; Dy/Tb circuits under construction since 29 Jul 2026, due end-2027; US heavy-REO qualified for magnets Dec 2025). eVAC Sumter SC (dashed) = block→assembly NdFeB+SmCo, OPERATING since Dec 2025 (2,000 t/yr nameplate, ~1,500-1,600 t practical; expandable to 4,000; GM offtake). Sep 2026: VAC acquisition ($1.9B, agreed 23 Jun 2026) NOT closed — 'end-2026' (Q2 release) vs 'early 2027' (deal release). ASM (Korean Metals Plant) acquisition COMPLETED 28 Aug 2026 → EF now a mine-to-metal-alloy group; planned US 'American Metals Plant' (no site/date; InvestorNews reports an initial 2,000 t/yr of alloy, expandable to 4,000 t/yr, though EF's own release gives no figure).
# Arnold Magnetic Technologies
Rochester NY. SmCo (RECOMA) = integrated alloy→assembly. NdFeB = finishing/assembly. Machines & assembles BOTH chemistries. DFARS/ITAR.
# EEC / Permag
SmCo integrated + NdFeB finishing
Electron Energy Corp (Lancaster/Landisville PA); only US SmCo producer. In-house SmCo alloy→press→sinter→machine→assemble; ALSO machines/assembles NdFeB. Sep 2026: 'more than doubles' SmCo capacity announced Aug/Sep 2025 (new alloying/pressing/fab equipment) — completion NOT confirmed by any 2026 source; mid-2026 DFARS-2027 compliance target announced. Weakest-sourced item — worth a direct ask.
# Dexter & MCE / Permag
buy blocks
Permag sisters; buy NdFeB & SmCo blocks → machine/magnetize/assemble.
Source: Permag
# Integrated Magnetics
buys blocks
Buys NdFeB & SmCo blocks → machining/assembly.
# Adams Magnetic Products
buys blocks
Buys NdFeB & SmCo blocks → fabrication/assembly.
# TDA Magnetics
Rancho Dominguez CA · buys blocks · origin unstated
Small minority-owned manufacturer of magnet components and precision assemblies (1175 W Victoria St, Rancho Dominguez): sintered SmCo, sintered + bonded NdFeB, ceramic, AlNiCo; coatings/plating (Ni, IVD, parylene, epoxy, phenolic). AS9100D + ISO 9001:2015; markets aerospace, medical, semiconductor, industrial. NASA purchase order $14K (Nov 2025; CAGE 7CMX4). Listed in customs data as an importer; NO statement on block origin or DFARS → assume imported blocks until documented. Sells on 'fastest lead times'.
Source: TDA GovCon ImportGenius
# Ucore — Louisiana SMC
Alexandria LA · RapidSX
Strategic Metals Complex: RapidSX separation of MREC/MREO → NdPr, Dy, Tb AND Sm (SmCo-relevant). ~9,600 t/yr TREO at full build (Machine A ~600 t + 3×3,000 t lines). DoD-funded, DPAS-rated; engineering complete May 2026; Machine A H1-2027. Feedstock deal with Vulcan (Mar 2026). Kingston ON demo plant.
# Star Group + POSCO (US) Korean parent
KR-backed · STALLED
Sep 2026: STALLED / likely superseded. Announced Oct 2023 ($220M; TX/TN/AZ; 3,000→5,000 t/yr). As of Jul 2026 Star Group is still only 'in discussion with POSCO International' about a US plant of up to 3,000 t/yr — no site, no groundbreaking, no funding update in ~3 years. POSCO Int'l's actual US vehicle is now the ReElement JV (below), which covers magnet making, with no public tie to Star Group. The 'deliveries to a N.American automaker from 2026' claim has no 2026 support. Target year removed (▸TBD).
Source: G-Enews Jul-26 KED 2023 POSCO
# LS Cable & System (US, Virginia) Korean parent
KR-backed · slipped to 2029
Korea-backed. $689M advanced-materials complex, Greenbrier/Chesapeake VA (announced Dec 2025; 86 acres; ~430 jobs) — copper rod, magnet wire, AND rare-earth magnets; feed from Australia (Lynas via LS Eco Energy). Sep 2026: timeline has moved twice — Mar 2026: permits end-Q3-2027, ops late 2027; Sep 2026 (WTKR): property closing end-2026, construction after, FULLY OPERATIONAL 2029-30. Moved ▸2027→▸2029.
Source: WTKR Sep-26 VA Business VEDP
# POSCO + ReElement (US separation JV) Korean parent
KR-backed · 'Boilermaker' · site TBD
Definitive JV 21/27 May 2026: $200M ($100M plant + $100M expansion reserve); POSCO Int'l majority/lead; ReElement = ion-chromatography separation IP. 3,000 t/yr NdPr + Dy/Tb by 2028 → 6,000 t by 2030; pilot Q4-2027, mass 2028 — unchanged. Scope on paper extends to metallization, magnet manufacturing and recycling ('first integrated RE magnet complex in the US'; magnet stages not drawn). Sep 2026: SITE STILL NOT SELECTED (Sep 2026) — pilot date at risk if not chosen within ~2 quarters. Recycling: applies ReElement's separation technology to recycled material from permanent magnets, lithium-ion batteries and industrial, defense and technology waste alongside mined feed. Announced Phase 1 3,000 t/yr and Phase 2 6,000 t/yr separated oxide across all feedstocks — not a recycling-specific figure.
Source: POSCO May-26 Metalnomist Sep-26 SEDaily
# Aclara — Project Dynamo (Vinton, LA) + CAP metals JV
heavy-RE separation + NdFeB alloy · pre-FID
Aclara Resources (TSX:ARA; Hochschild + CAP backed). Port of Vinton, Calcasieu Parish: US$277M separation plant — 1,131 t NdPr, 148 t Dy, 25 t Tb oxide/yr (+Sm/Gd/Y) from Aclara's own Brazil/Chile ionic-clay carbonate; the first US heavy-RE separation plant if built. 50/50 metals & alloys JV with CAP S.A. next door (US$149M): 2,681 t NdFeB alloy, 811 t NdPr metal, 154 t FeDy, 19 t Tb metal/yr. Status: FS/technical reports Apr 2026 (integrated chain US$1.21bn capex, NPV8 US$2.33bn, 26% IRR); EXIM non-binding LOI up to US$750M (4 Sep 2026); LA incentives (~US$20.8M tax exemption + US$3M grant); 'construction-ready' end-2026, groundbreaking 'as early as Q4 2026'; commissioning Q2 2028 (separation) / Q4 2028 (metals). NO FID and no financing close yet. VAC strategic alliance (2024) for magnet-chain offtake; Virginia Tech pilot separation.
# REalloys — Tooele Army Depot, UT
heavy-RE metallization · funded · site moved OH→UT
Metallization plant for Dy/Tb (and NdPr) metal from SRC (Saskatoon) oxides, sized ~50 t/yr Dy+Tb oxide feed; alloy design/R&D in Ohio. Funded from the $100M Jun-2026 placement ('fully funded $58.3M', Aug 2026). Siting moved from Euclid OH (May 2026, Dy/Tb metal Q4-2027) to Tooele Army Depot UT (Aug 2026, commissioning Q1-2028, ops H1-2028) — treat the earlier date as dead. Driver = DFARS 252.225-7052 Jan-2027 deadline. Offtake MOU with Ramaco for MREC. Depends entirely on SRC's unproven full-scale process.
# Ramaco — Brook Mine (Sheridan, WY)
REE from coal/overburden · pilot u/c · MREC
Under consideration (pilot under construction, commercial unproven). Nasdaq:METC. Resource 1,392 kt in-situ critical-mineral oxide at 498 ppm ASH-BASIS (whole-coal ~10× lower; hard-rock thresholds ~3,000-5,000 ppm; not a reserve). Product changed twice: SX to individual oxides (Fluor PEA Jul 2025) → carbochlorination to MREC for third-party refiners (Feb 2026), with gallium/HPA/HPQ now the primary revenue and scandium demoted. Pilot plant groundbreaking 23 Oct 2025 (Weir/Fluor), redesign Q3-2026, pilot ops 2027; revised PEA (Hatch) and PFS due 2026 — not published; commercial steady-state 2029 at best. Oxide target ~3,400 st/yr. $200M equity Aug 2025; ~$20M of 2026 capex to REE; WEA $6.1M grant; NO DOE/DoD production award. MREC offtake MOUs: REalloys, Mulberry. Serious named skepticism (Bre-X comparisons; 'not following resource→PEA→PFS→FS'). Context, hard rock (not coal): Rare Element Resources Bear Lodge/Upton demo (NdPr oxide, ops slipped to late 2026, permits 2028); American Rare Earths Halleck Creek (very large, very low grade; 2026 drilling for DFS).
Source: Ramaco FAQ 8-K Feb-26 CSD critique RER
# Peabody — Rawhide (Gillette, WY) + DOE coal-CM cohort
REE from PRB coal/overburden · pilot
Under consideration (funded pilot, no product). Peabody (NYSE:BTU) Rawhide mine pilot to make a 'market-ready mixed rare-earth concentrate' from PRB coal/overburden; selected in DOE OCMEI's $75M coal-to-critical-minerals tranche (1 Jul 2026; five awardees — Peabody, CONSOL Innovations/Core Natural Resources (PA coal waste), Univ. of North Dakota (Falkirk lignite), Valor Metals, American Resources/ReElement) — amounts still in negotiation; Wyoming Energy Authority $6.25M match. NETL/UW fly-ash pilot at Gillette (testing since Mar 2025) and WVU acid-mine-drainage work are research, kg-scale MREC. Reality check: PRB coal ash ~300-500 ppm TREO; economics only work with sunk mining cost and non-RE revenue. No commercial coal-derived separated oxide exists anywhere in the US today; the only coal-adjacent player shipping product is ReElement (a refiner, not a miner).
Source: DOE Jul-26 WyoFile MTN NETL
# Cyclic Materials — Mesa, AZ (Spoke) ca
25,000 t/yr magnet-bearing EOL · OPEN 9 Sep 2026
World's first commercial-scale MagCycle(R) deployment. 144,000 sq ft, ~US$20-30M, >25 jobs; opened 9 Sep 2026 with the US Under Secretary of Commerce for International Trade in attendance - built 17 months from announcement. Capacity up to 25,000 t/yr of magnet-bearing end-of-life product; feedstock-agnostic, running ~8 t/hr; >7,000 t already delivered; recovered Cu/Al/steel being sold to US smelters; first commercial Mag-Xtract shipments to US customers due late Sep 2026. Output is CONCENTRATE, not oxide - the Hub step happens in Kingston (and from 2028 in McBee). Feedstock network: ERI global partnership (Jul 2026; ~1M lb/day e-waste across 8 US plants, AI sortation, also now an equity investor), VAC Sumter swarf (10-yr exclusive, Jan 2026), SYNETIQ, Renercycle, Southwest auto/e-scrap (region sized ~155,000 t/yr EOL components). Policy: 30 Jul 2026 presidential determination added EOL RE permanent magnets + manufacturing scrap to DPA Sec.101 as recoverable critical materials. Recycling: first commercial-scale MagCycle deployment, opened 9 September 2026. Nameplate input up to 25,000 t/yr of magnet-bearing end-of-life products; reported running at 8 t/hr with over 7,000 t of feedstock delivered to site.
Source: Opening 9-Sep-26 Site visit ERI VAC swarf
# Cyclic Materials — McBee, SC (Spoke + Hub) ca
US$82M · 2,000→6,000 t/yr → 600→1,800 t rMREO
THE BIG ONE. Alligator Industrial Park, McBee (Chesterfield County) SC: 2nd US Spoke + largest Hub to date, combining MagCycle + REEPure on one site. 2,000 t/yr magnet material initially → 6,000 t; ~600 t/yr rMREO → 1,800 t. US$82M, 90+ jobs; SC Coordinating Council job development credits + US$500k Set-Aside grant to Chesterfield County. GROUNDBREAKING TARGETED Q4-2026 (not yet broken as of 14 Sep 2026); OPERATIONS 2028. Sited deliberately near VAC's Sumter SC magnet plant (swarf feed) - SC is becoming the US magnet-recycling cluster, alongside USARE Blacksburg and eVAC Sumter. Funded from the US$75M strategic round closed 27 Aug 2026 (T. Rowe Price-led; total equity US$237M; ERI joined as strategic investor). Recycling: announced spoke and hub, operations expected 2028 — 600 t/yr MREO from 2,000 t/yr of magnet material, expanding to 1,800 t/yr from 6,000 t/yr. Takes 100% of Vacuumschmelze's Sumter magnet production by-products under a 10-year exclusive agreement.
Source: SC campus US$75M Aug-26 2028 ready
# US Strategic Metals + Ionic RE (JV)
Fredericktown MO · NdFeB AND SmCo recycling · term sheet only
THE ONLY ANNOUNCED N. AMERICAN PROJECT THAT NAMES SmCo AS AN INPUT - flagged for the SmCo-capable filter. USSM (ex-Missouri Cobalt, St. Louis; acquired the historic Madison Mine 2018 and rebuilt a Superfund site into a 1,750-1,800-acre FULLY PERMITTED multi-metallic campus; core business is Co/Ni/Cu from concentrate + Li-ion black mass; ~US$500M funding/commitments incl. Glencore, HPS and a US$230M Appian package Dec 2023; Phase 1 sized 240 t/day). JV TERM SHEET 3 Sep 2026 with Ionic Rare Earths USA, superseding a Nov-2025 MOU signed at the Australian Embassy in Washington: NON-BINDING, 50-50, intended US$100M funding (US$95M USSM + US$5M equity split evenly); 5-member board (3 USSM / 2 Ionic); Ionic USA chairs the Technical Operations Committee and owns technical/commercial matters incl. FEEDSTOCK PROCUREMENT; Ionic Technologies (Belfast) contributes a NON-EXCLUSIVE license for magnets, magnet scrap and other heavy-RE-bearing compounds. Scope: recycled NdFeB and SmCo magnets and scrap; JV also intends to evaluate Eu, Gd, Ho, Er, Tm, Lu, Y. First US$5M completes FEED + demonstration-scale recycling. NO FID, no capacity figure, no dates. FLAG: one third-party directory lists USSM funding status as 'out of business' (updated Mar 2026) - almost certainly stale given Sep-2026, Apr-2026 (Virtus cobalt MOU) and Jan-2026 (Saudi NIDC alliance) activity, but resolve before relying on the company. Recycling: 50/50 JV announced 3 September 2026 to build magnet recycling at USSM's Fredericktown, Missouri site, processing recycled NdFeB and SmCo magnets and magnet scrap. $95M from USSM plus $5M joint equity. Definitive agreements targeted end-2026; no capacity published.
# Phoenix Tailings
Woburn, MA + Exeter, NH · tailings, residues, recycled magnets
Recovers rare earth from mine tailings and industrial residues plus recycled magnets and hard disk drives, and metallizes purchased oxide. Exeter NH nameplate is 200 short tons/yr, which the company describes as scalable to over 1,000 t/yr. Independent reporting in Aug 2026 put actual output at roughly 200 kg/yr, with 120 t not expected until 2027-2028 — do not read the nameplate as output. A larger 'Freedom' facility is backed by a reported $500M Pentagon loan. Private; investors include Envisioning Partners, Builders Vision, Yamaha Motor Ventures, Presidio Ventures (Sumitomo), In-Q-Tel.
Source: Phoenix Tailings Fortune
# HyProMag USA
Dallas–Fort Worth, TX · HPMS short-loop recycling
50:50 JV between CoTec Holdings and HyProMag Ltd, which sits under Maginito (79.4% Mkango Resources). Feedstock is end-of-life NdFeB magnets and magnet-bearing assemblies, notably hard disk drives, plus production scrap. Phased plan as of Jul 2026: ~400 t/yr recycled sintered NdFeB plus ~278 t/yr co-products at 2028, building to ~1,526 t/yr of magnetic products. Magnet finishing commissioning targeted H1 2027, HPMS recycling section Q2 2028 — the recycling start has moved out about a year. Zero recycled metric tons produced in the US to date.
Source: Nasdaq HyProMag USA
# Momentum Technologies
Dallas, TX demo · membrane solvent extraction
Processes recycled material and end-of-life sources alongside ore and tailings, with rare earth magnet material one stream and lithium-ion black mass the other. Texas demo plant has run the battery circuit since Sep 2024; the rare earth circuit was expected to commission around Feb 2026. Reported record purity milestones for rare earths Jun 2026. No rare-earth-specific capacity is published — the ~2,000 t/yr Ohio figure is a planned battery-materials plant. Private; TechMet is an investor.
Source: Mining.com PR Newswire
# Critical Materials Recycling (TdVib)
Boone, IA · acid-free dissolution, ex-Ames Lab
Commercialized the acid-free dissolution recycling process licensed from Ames National Laboratory. Feedstock is pre-shredded hard disk drives, wind turbine generators, vehicle transmissions, e-waste and purchased magnet swarf. No annual tonnage published; states pilot-scale capability to handle material from over 2 million hard drives annually, and processed ~50,000 lb of shredded end-of-life HDDs in the Western Digital/Microsoft program at ~90% rare earth recovery. Small but real — the only at-scale US HDD magnet recovery campaign on record.
Source: Business Wire Iowa Capital Dispatch
# REEcycle (Rare Resource Recycling) unverified
Houston, TX · DPA Title III award, build unconfirmed
Recovers Nd, Pr, Dy and Tb from rare-earth-bearing electronic waste. A $5.1M Defense Production Act Title III award was announced Jan 2025 to restart a demonstration facility and commission a commercial facility at an announced ~50 short tons/yr. No public confirmation of commissioning has appeared since, and the company has a thin public footprint — carried here as announced and unconfirmed rather than operating.
Source: The Defense Post
Canada 6 organizations
# SRC Rare Earth Processing Facility
Saskatoon · Crown corp · REalloys offtake
Saskatchewan Research Council: hydromet → SX separation (400+ mixer-settlers) → NdPr METAL — first commercial-scale RE metal in North America (batch, Sep 2024; 10 t/month achieved). C$71M provincial + C$6M federal. CONFLICT: SRC markets an operating refinery, but its own schedule says substantial completion Sep 2026, commissioning Dec 2026, full ops 2027, and no recovery/purity/throughput data are published — drawn ▸2027. REalloys-funded upgrade → 525 t NdPr metal + 30 t Dy₂O₃ + 15 t Tb₂O₃/yr (commercial intake Q3-2027); REalloys holds ~80% of output. Canada context: NO magnet plant announced anywhere in Canada; Neo Performance Materials (Toronto HQ, TSX:NEO) has no Canadian RE plant (Peterborough = 25-35 t/yr Ga/In only; magnets in Estonia). Vital Metals' Nechalacho (NWT) — Canada's only RE mine — suspended 2023; its Saskatoon cracking plant went bankrupt Oct 2023; 45 kt stockpile, PFS partner search 2026.
Source: SRC 2024 SRC timeline REEx skeptic Vital
# Torngat Metals — Strange Lake + Sept-Îles
QC/NL · heavy-RE · pre-FID · Cerberus-led
Under consideration. Strange Lake (Nunavik) mine + concentrator, 180 km road to Voisey's Bay, SEPARATION plant at Sept-Îles: 15,000 t/yr REO → ~2,400 t NdPr, 540 t Dy, 80 t Tb per year; >30-yr life; ~C$2B total (~US$800M separation). Cerberus lead investor (~$50M); EDC C$110M bridge + CIB C$55M (17 Jun 2025) fund engineering/permitting only; CIB up to C$500M for road/infrastructure contingent on permits. Bankable FS targeted H1-2026 (publication not confirmed); permits early 2027; first production slipped 2028 → 2029-30 (CEO Feb 2026). Equity raise open; no FID.
Source: Torngat Mining.com Feb-26 CIB
# REalloys — Hoidas Lake
SK · dormant deposit · REalloys' 'upstream foundation'
Under consideration (early/dormant). Referenced in REalloys (Nasdaq:ALOY) releases as upstream optionality; no current resource update, drilling, PEA or timeline. REalloys' real assets are the SRC offtake/upgrade and the Tooele UT metallization plant (see United States). REalloys: $100M private placement Jun 2026; 'fully funded' $58.3M for both projects (Aug 2026); ~$600M market cap on ~$1.5M revenue — everything rests on SRC delivering. Recycling: REalloys lists recycled magnets, e-waste, lamp phosphors and acid mine drainage among its feedstocks and cites a mine-waste-to-magnet partnership, but publishes no recycling plant, process or volume. A stated feedstock strategy, not a running operation.
Source: MW Aug-26 REalloys May-26
# Ucore — Kingston ON (demo + planned Sm/Gd plant)
RapidSX demo since Dec 2023
Under consideration for commercial scale. 52-stage RapidSX demonstration plant (~5,700 hrs, 99.5% NdPr shown; heavy MREO processed). Government of Canada conditional approval up to C$36.3M (NRCan C$26.3M + FedDev C$10M, 31 Oct 2025) for a commercial samarium/gadolinium refining plant in Kingston — no capacity/date. Ucore's commercial build is Louisiana (US section, ▸2027, DoW OTA US$22.4M).
Source: Ucore Oct-25 Ucore LA
# Cyclic Materials
Kingston ON · recycling → mixed oxide · Solvay offtake
RECYCLER, not a magnet maker - drawn at Separation as a pre-separation node (same convention as Hastings MREC and Carester). Founded 2021; US$237M total equity (T. Rowe Price lead, Canada Growth Fund, Microsoft Climate Innovation Fund, Amazon, BMW i Ventures, ERI). Two proprietary steps: MagCycle(R) = automated mechanical magnet liberation → Mag-Xtract(TM) concentrate + Cu/Al/steel; REEPure(SM) = hydromet → recycled MIXED rare earth oxide (rMREO), >90% claimed RE recovery. Hub100 (Kingston, 100 t/yr) operating since Jun 2024 - first multi-ton rMREO shipment in N. America. Kingston Centre of Excellence (140,000 sq ft, US$25M, 500 t/yr feedstock Hub + R&D + mini-Spoke) was announced for Q1-2026 start but was still listed UNDER CONSTRUCTION on 11 Aug 2026 with no start-up release - WATCH. Does NOT operate commercial solvent-extraction separation or metallization: rMREO goes to SOLVAY (La Rochelle) under a 2024 offtake, and to Neo under a Mar-2026 non-binding MOU. SAMARIUM: the company lists NdPr/Sm/Gd/Tb/Dy as oxides and metals on its technology page, but every named feedstock stream is NdFeB (ERI e-waste/HDD, VAC Sumter NdFeB swarf, Neo scrap, SYNETIQ motors, Renercycle turbines) and no SmCo feedstock has ever been announced - treat the Sm claim as UNVERIFIED/roadmap. Recycling: the Kingston, Ontario Centre of Excellence (140,000 sq ft, USD 25M, REEPure process) converts magnet-rich scrap to recycled mixed rare earth oxide at an announced 500 t/yr of magnet-rich feedstock. Operations were targeted for Q1 2026; no commissioning notice has appeared. Named feedstock partners: Vacuumschmelze, Neo Performance Materials (MoU), ERI.
Source: Cyclic tech Hub100 2024 CoE Jun-25 CMF status Solvay offtake Neo MOU
# Geomega Resources (Innord)
Saint-Bruno, QC · TSXV: GMA · ISR process
Recovers Nd and Pr oxides from NdFeB magnet scrap taken from industrial supply chains, using the ISR process held by subsidiary Innord. Demonstration plant permitted by Quebec's environment ministry Jun 2026 for 1.5 metric tons/day of NdFeB feed — a daily feed rate, not an annual figure. Major equipment installed, commissioning expected end of summer 2026; the operating permit authorizes data collection through end-2028.
Source: Metal Tech News
United Kingdom 3 organizations
# Less Common Metals (LCM) US-owned
Ellesmere Port · USARE subsidiary
RE metals + strip-cast NdFeB alloy (+ SmCo alloys); first commercial yttrium metal pour Apr 2026. Fastmarkets reports ~2,500 t/yr total alloy capacity operating (Sep 2026), across light/heavy RE metals, magnet alloys, hydrogen-storage alloys and other specialty materials; the previously stated 3,000 t/yr Q4-2026 run-rate target did not reappear in USARE's Q2 2026 outlook. Largest ex-China alloy plant in Europe; direct competitor to Santoku. Recycling-based sintered makers HyProMag (Birmingham/Pforzheim/DFW) and Ionic (Belfast, oxide only) on the bench. Recycling: in the REEmelt project LCM purifies and remelts recycled magnet alloy directly, described as the only UK company able to do that type of remelting at scale. Note the contrast with the Ionic/VAC chain, where LCM only reduces oxides that Ionic recovered. No tonnage published.
Source: REEx USARE Fastmarkets
# Ionic Technologies (Belfast)
ASX:IXR · 400 t/yr SEPARATED REOs · pre-FID
Wholly owned Belfast subsidiary of Ionic Rare Earths Ltd (ASX: IXR). Distinct from Cyclic: the patented 'long-loop' process yields INDIVIDUALLY SEPARATED high-purity (99.5%+) magnet REOs from pre-consumer magnet scrap and EOL magnets - i.e. it does in one plant what Cyclic + Solvay do in two. Planned 400 t/yr REO at Queen's Island, Belfast Harbour Estate. Capital ~GBP 85M total; GBP 12M DRIVE35 capital grant OFFER IN PRINCIPLE 27 Jan 2026 (DBT / Advanced Propulsion Centre / Innovate UK), ~14% of cost, subject to due diligence - remaining finance NOT secured. Progress: FS Nov 2024 → bridging study early 2026 → FEED launched Jul 2026 (Tenova Advanced Technologies), concluding late 2026 → planning application Q3-2026 (public consultation closed with NO objections) → FID TARGETED BY END OF SEP-2026 QUARTER → construction projected 2027. Drawn pl: (under consideration) until FID. Policy fit: UK Critical Minerals Strategy (22 Nov 2025) targets 20% of needs via recycling by 2035. Parent also raised A$15.6M (Jan 2026) and owns Makuutu (Uganda ionic clay, long-dated). Technology is being exported to the USSM Missouri JV (US row). Recycling: demonstration plant with 30 t/yr input capacity for waste magnets and swarf; over 10 t of separated magnet rare earth oxides produced cumulatively since June 2023. A commercial-scale plant at Belfast Harbour is separate, construction expected to begin 2026.
Source: DRIVE35 ASX FEED Jul-26 MST Access
# HyProMag Ltd
Tyseley, Birmingham · first UK magnet recycling in 25 yrs
Hydrogen Processing of Magnet Scrap (HPMS) short-loop recycling of end-of-life NdFeB into recycled alloy powder and sintered magnets. Officially opened by the UK Minister for Industry in Jan 2026 and billed as the UK's first rare earth magnet recycling plant in 25 years. 900 kg of recycled alloy powder produced as of the Sep 2025 update; one trade source puts UK nameplate at roughly 100 t/yr. Sits under Maginito (79.4% Mkango Resources, 20.6% CoTec).
Germany 4 organizations
# Vacuumschmelze (VAC)
Hanau; VACODYM (NdFeB) + VACOMAX (SmCo), 170+ alloys; melt→sinter→machine→assemble. Sites: Hanau DE, Horná Streda SK (permanent magnets), Ulvila FI (= Neorem Magnets, sintered NdFeB — own row under Finland), Sumter SC (eVAC, live Dec 2025). Sep 2026: Energy Fuels acquisition ($1.9B) agreed Jun 2026, closing late 2026/early 2027 (pending). JV w/ LS (Korea); alliance w/ Aclara (Chile/Brazil/LA) for ex-China feed; Cyclic Materials recycling deal (10-yr exclusive on Sumter NdFeB swarf, Jan 2026). Context: GKN Powder Metallurgy CANCELED its planned 4,000 t/yr European NdFeB plant (Dec 2025).
# Magnetfabrik Schramberg
buys alloy
Buys alloys. Bonded/pressed NdFeB + SmCo (+ferrite excluded). Starts at block making.
# Heraeus Remloy
Bitterfeld-Wolfen · 500 t/yr NdFeB alloy from scrap
Melt-based 'medium loop' recycling of end-of-life rare earth magnets, magnet alloys and production scrap into NdFeB alloy and alloy powders for the bonded and hot-deformed markets. 500 t/yr of NdFeB alloy, operating since May 2024 and described at launch as Europe's largest rare earth recycling plant of its type; a stockpile of over 300 t of magnets and alloy transferred with the business. Mkango/Maginito agreed in May 2026 to acquire it from Heraeus for EUR 8M, closing expected summer 2026 — which would put it under the same owner as HyProMag.
# HyProMag GmbH
Pforzheim · HPMS, permitted to 750 t/yr
HPMS short-loop recycling of end-of-life NdFeB. Initial commissioning of the HPMS vessel is complete, with an official opening 28 April 2026; jet mill commissioning followed, and the alignment press and sintering furnace are being installed in sequence. Roughly 100 t/yr initially, ~350 t/yr on multiple shifts, permitted up to 750 t/yr over a three-year phased expansion — permit and capacity figures, not output. A SUSMAGPRO spin-out; sits under Maginito/Mkango.
Source: Mkango/AIM
Switzerland 1 organization
# Arnold Magnetic Technologies AG (Lupfig) US-owned
RECOMA SmCo · European Arnold site
Arnold's European SmCo operation (ex-Ugimag), Lupfig AG: RECOMA Sm2Co17/SmCo5 magnets — pressing, sintering, machining, finishing and assemblies; drawn Alloying→Assembly to match Rochester (in-house alloying at Lupfig to be confirmed). Arnold's Thailand plant (Chonburi, Phase II mid-2027) is being built partly to relieve Lupfig. Switzerland is NOT a DFARS qualifying country (7052-OK if feed is non-China); UK (Sheffield) is. Suggested by a reader of the map (Sep 2026).
Source: Arnold sites RECOMA
Finland 1 organization
# Neorem Magnets (VAC) de
Ulvila · buys alloy · large sintered NdFeB
Sintered NdFeB specialist for LARGE magnets, pole elements and assemblies (wind generators, big motors, servo/linear): hydrogen decrepitation → jet milling → die pressing in field → sintering → machining → coating → magnetizing → assembly, all in Ulvila; starts from purchased alloy (no melting/strip-casting disclosed). Ex-Outokumpu Magnets (1988; NdFeB under license since 1991; Neorem 1995); part of Vacuumschmelze since 2007 — so VAC's 'Ulvila' site IS Neorem (corrects an earlier note that it was soft-magnetic). Finland = DFARS qualifying country. Capacity undisclosed. Suggested by a reader of the map (Sep 2026).
Source: Neorem Production
France 4 organizations
# Solvay
La Rochelle · the hinge · Sm since 2025, Dy/Tb autumn 2026
La Rochelle has separated rare earths since 1948 - the largest such plant outside China and one of very few able to process both light AND heavy REs at industrial scale (FY2025 group underlying net sales EUR 4.3bn; RE sits in Special Chem under An Nuyttens). Apr 2025: new magnet-grade NdPr line (~EUR 10M). 2025: SAMARIUM PRODUCTION STARTED (2025 Annual Integrated Report). Nov 2025: agreement with PERMAG (US) + LESS COMMON METALS (UK) - Solvay separates pure Sm oxides at La Rochelle, LCM metallizes, Permag makes magnets/assemblies, 3-5 year horizon. Jul 2026: up to EUR 20M into heavy-RE separation, industrial-scale Dy/Tb from autumn 2026 (verify Sep-2026). Target: 30% of European magnet-grade light+heavy RE demand by 2030; -40% CO2, -50% water. Feedstock network: Cyclic Materials rMREO offtake (2024), Viridis Mining & Minerals LoI (Jun 2026, Brazilian ionic clay by 2028 - carries Sm/Gd/Y as well as Nd/Pr/Dy/Tb), Carester MOU (2024). Open to a US plant but conditions it on stronger government/customer commitments - nothing greenlit. Separation only, no magnets. Recycling: a non-binding 2023 MoU with Cyclic Materials to separate recycled mixed rare earth oxide shipped from Cyclic's Ontario site to La Rochelle, plus a stated aim to play a proactive role in magnet recycling. No volumes, no timeline, and no confirmation the MoU has advanced.
Source: Solvay Permag+LCM Sm Viridis LoI EUR 20M Dy/Tb Profile
# Carester / Caremag
Lacq · recycling + heavy-RE
Lyon-based (2019, ex-Solvay/Rhodia team). Caremag (Lacq) = magnet RECYCLING + heavy-RE separation: ~800 t NdPr (650 didymium + 150 Nd) + 500 t Dy + 90-100 t Tb oxide/yr (~15% of world Dy/Tb). €216M (French state + JOGMEC/Iwatani ≤€110M). Sep 2026: FID Dec 2024, construction since Apr 2025, permits in hand; USARE took ~13.6% (Jul 2026, with InfraVia) — commissioning late 2026, ops Q4-2026, real ramp 2027 → ON TRACK (tight). Lindian (Kazakhstan) 10-yr feed offtake Sep 2026. 10-yr Stellantis offtake. No magnets. Bench: MagREEsource (Grenoble, 50 t/yr recycled sintered NdFeB → 500 t 2027). Recycling: 2,000 t/yr of magnets recycled is an explicit, separately quantified component of the Caremag Lacq project, alongside 5,000 t/yr of mining concentrates refined; operations expected late 2026. Neo has since agreed to send Carester its sintered-magnet swarf and take back NdPr, Dy and Tb oxides.
Source: Carester plant USARE Jul-26 METI
# USA Rare Earth — LCM Europe US-owned
Lacq · metal + alloy · announced Jan 2026
LCM Europe SAS: a USA Rare Earth subsidiary announced 20 Jan 2026 to build a rare-earth metal and complex-alloy plant at Lacq, targeting approximately 3,750 t/yr across light and heavy rare-earth metals and complex alloy systems. A separate legal entity and facility from Less Common Metals Ltd. (LCM UK, Ellesmere Port) despite the shared ownership, and co-located with but distinct from Carester's neighboring Caremag oxide plant (see that entry). French government support: C3IV program credits for up to 45% of eligible equipment costs, plus up to EUR 130M toward real estate; USARE/LCM's own figure for total project cost is EUR 110M, with an estimated 100-140 jobs. No construction start, groundbreaking, or commissioning date has been published for this facility specifically as of Sep 2026.
Source: USARE 20-Jan-26 Fastmarkets
# MagREEsource
Noyarey, Isère · magnet-to-magnet, 50 t/yr pilot
Takes sintered magnet scrap of any grade or size, magnetized or not, from EVs, wind turbines, MRI and other systems, plus production scrap, and makes new sintered NdFeB and SmCo magnets from it — magnet-to-magnet, vertically integrated through metallization. 50 t/yr pilot line operating since 2023, with the facility being expanded by 400 m2 to 1,500 m2; a 500 t/yr 'MagFactory' is announced for 2028 construction with no public FID. A CNRS-Institut Néel spin-off; EUR 5M from EIT RawMaterials. One of very few Western operations closing the loop all the way to a finished sintered magnet.
Source: Magnetics Mag EIT RawMaterials
Norway 1 organization
# REEtec unverified
Herøya · LKAB 33.7%
Drawn as unverified. Proprietary low-chemical separation at Herøya Industrial Park: Plant 1 = 720 t/yr NdPr oxide (~5% of EU demand), feedstock expected early 2025; Plant 2 construction from 2026 → 2027. LKAB largest owner (33.7%); Mercuria-backed €115M raise. No 2026 source confirms steady-state operation — treated as unconfirmed. LKAB's own Per Geijer/Luleå chain is 2030s (bench).
Source: MagneticsMag LKAB
Estonia 1 organization
# Neo Performance Materials
Silmet/Sillamäe = separation (small HREE SX line commissioned Apr 2026) → Narva = Europe's largest sintered-NdFeB plant (opened Sep 2025). Sep 2026: Q2-2026 still shipping QUALIFICATION samples for awarded auto platforms; 2-3 programs to enter commercial production in 2026 → real volume 2027 (mild slip). Phase 1A ~2,000 t; Phase 1B equipment ordered → ~5,000 t (~2028). Metallization/Alloying gap persists — Neo's metal plants are in China/Thailand. Bidder in India's REPM scheme. Canadian parent (TSX:NEO).
Slovenia 2 organizations
# Magneti Ljubljana
buys alloy
Buys alloys. Sintered/bonded NdFeB (+ferrite excluded). Recycling: a SUSMAGPRO pilot line rated at roughly 20 t/yr of recycled NdFeB, plus EU projects (DyScovery, MaXycle, REMANENCE, DEMETER) on end-of-life NdFeB and SmCo including WEEE, and a separate national project on recycling sludge from its own Sm2Co17 production. All framed as projects rather than a commercial production process.
# Kolektor
assemblies · sintered blocks sourced from CN affiliates
Kolektor Magnet Technology (Slovenia/Fellbach DE, ex-Krupp Widia) makes BONDED NdFeB + hard-ferrite + sintered AlNiCo magnets and magnet assemblies; SINTERED NdFeB/SmCo are sourced from affiliated companies in China — so it is a finishing/assembly node, not a block maker. Jun 2026: award for a 100%-recycled-NdFeB plastomagnet (HARMONY EU project).
Australia 3 organizations
# Lynas Rare Earths
Mt Weld (WA) + LAMP Kuantan (see Malaysia) + Kalgoorlie. NdPr AND heavy/Sm: first Dy oxide May 2025, Tb Jun 2025, SAMARIUM oxide Mar 2026 (→SmCo); Gd/Y early 2028, Lu Apr 2028 (HRE capex blew out A$180M→A$294M on non-Chinese equipment). No magnets itself ('miner + chemical processor'): JS Link JV in Malaysia + LS Eco Energy metal JV in Vietnam. Sep 2026: TEXAS (Seadrift) = 'on hold / unlikely to proceed' — never formally canceled. FY26 record revenue A$978M; US$110/kg NdPr price-floor offtakes (Japan JARE/Sojitz 12-yr; US DoW 4-yr). CEO Lacaze retired; Pol Le Roux interim. Mar 2026: Sojitz/JARE revised long-term contract raises Japan's committed share of Lynas medium/heavy RE output to 75% (from 65% Dy/Tb under the 2023 deal) and adds Sm/Y/Lu/Gd; no tonnage or end date in Sojitz's own release.
Source: REEx FY26 Texas Sojitz 13-Mar-26
# Arafura Rare Earths (Nolans)
Nolans Bore, NT. Australia's first integrated 'ore-to-oxide' RE op → ~4,440 t/yr NdPr oxide (~4% world demand); 23-38 yr life. FID 21 May 2026; Hatch EPCM; ~93% of target NdPr under offtake (Hyundai/Kia 1,500 t, Siemens Gamesa 520 t, Traxys 800 t, AU Strategic Reserve 500 t). Sep 2026: site works from mid-Sep 2026, bulk earthworks by end-2026, 37-MONTH build → technical completion/first oxide LATE 2029, full capacity ~2031-32. A$775M senior debt + EFA/German RMF equity (Oct 2026); A$723M cash. Moved ▸2028→▸2029.
# Iluka Resources — Eneabba refinery
WA · 17,500 t/yr TREO
Fully integrated RE refinery (roast/leach/purify/SX separation → Nd, Pr, Dy, Tb oxides) at Eneabba, WA: 17,500 t/yr TREO from 55,000 t feed. A$1.7-1.8B capex, A$1.65B Australian-government non-recourse loan; engineering ~99%, >50% built, A$977M spent (mid-2026). First production 2027. By tonnage the largest ex-China separation plant under construction anywhere. No metal/magnet. Bench: Hastings Yangibana (mining, Q4-2026), Northern Minerals Browns Range (HRE, FID Q4-2026), ASM Dubbo.
Source: Iluka MiningWeekly
Malaysia — foreign-owned plants (Kuantan hub) 2 organizations
# Lynas Advanced Materials Plant (LAMP) Australian parent
Kuantan/Gebeng
Cracking/leaching + separation of Mt Weld concentrate: NdPr, La/Ce, and since 2025-26 Dy, Tb and Sm oxides — the only commercial-scale heavy-RE separation outside China. Gd/Y/Lu circuits ▸2028. Feeds JS Link (KR/MY), LS Eco Energy (VN), Noveon (US), and JARE/Sojitz (JP).
Source: Edge Q4-FY26 call
# JS Link + Lynas magnet JV Korean parent
Gebeng · 3,000 t/yr
First significant sintered-NdFeB plant in Malaysia, next to LAMP: 3,000 t/yr, ~RM142M/US$35M (an earlier RM600M/US$143M 'super magnet' figure may be the fuller program), ~400 jobs, land secured. Definitive: Lynas A$50M for ~4.58% of JS Link + exclusive NdPr supply to Jan 2038 (7 Jul 2026). No groundbreaking/start date published — ▸2028 is a placeholder.
Thailand — midstream host (no mine, no separation) 3 organizations
# Hastings + Enuo — Kabin Buri MREC plant Australian parent
Prachinburi · cracking & leaching only · African monazite feed
Hastings Technology Metals (ASX:HAS) buying 49% of a fully permitted hydromet plant from Enuo Holdings (SG) for up to US$15M (31 Mar 2026). Cracking & leaching of monazite → MIXED rare-earth chloride (MREC), NOT separated oxides — drawn at Separation as the pre-separation step. 6,000 t/yr MREC nameplate → ~30,000 t/yr from 2027; commissioning from Jun 2026, first production targeted Q4 2026. Feed = ≥5,000 t/yr African monazite (≥54% TREO) via Laem Chabang, not Thai ore; Ucore (Louisiana) flagged as a potential offtaker. Thailand's only credible new upstream asset.
Source: ASX 31-Mar-26 Proactive Ucore
# GQD Special Material (Thailand) Chinese parent
Rayong · Ganzhou Qiandong · Neo 20% · toll metal
The only oxide-to-METAL step in Thailand. Chinese-controlled JV (Ganzhou Qiandong Rare Earth Group; Neo Performance Materials 20%) that toll-converts oxide to RE metal/alloy for Neo's Magnequench Korat bonded-powder plant (Neo AIF Mar 2026). Capacity undisclosed. Strategic point: Neo's non-China bonded supply rests on a Ganzhou-parented toller — the exposure to underwrite if China's controls extend to metal/alloy. Thai RE imports come mainly from Lynas Malaysia; exports go to Japan as metal/alloy/powder. No Thai separation plant exists (Xinyuan Rare Earth Thailand, Rojana — unverified, no plant details).
Source: Neo AIF 2026 Lanner REEx Aug-26
# Arnold Magnetic Technologies (Thailand) US-owned
Amata City, Chonburi · SmCo
Arnold's SmCo magnet production, shaping/finishing and rotor/stator assembly site, opened Oct 2024; expansion announced 28 Apr 2026 — Phase I complete, Phase II by mid-2027, doubling Arnold's group magnet capacity and relieving the Swiss (Lupfig) plant. Alloy from Arnold's own RECOMA supply. Thailand context: monazite by-product/stockpile exports (~8,200 t in 2025 per DPIM, mostly to Chinese crackers) with no recorded production; USGS 2024 output revised 13,000 → 2,100 t — the 'top-5 producer' headlines are dead. Bonded/ferrite out of scope: Neo Magnequench Korat (1,800 t/yr bonded powder + 1,000 t/yr bonded magnets), Shin-Etsu/TDK/Proterial Thai ferrite/bonded sites. No sintered NdFeB plant announced in Thailand 2023-26. Myanmar Dy/Tb ore flows to China, not Thailand — what crosses the border is arsenic (Kok/Sai/Mekong).
Source: Arnold Apr-26 USGS TH Al Jazeera
Saudi Arabia 1 organization
# Ma'aden + MP Materials + US DoW refinery JV US-owned
term sheet · no site/date
Binding term sheet 18-19 Nov 2025: Ma'aden ≥51%, MP + US Dept. of War 49% (DoW fully finances the US share). Scope = feedstock processing + SEPARATION of light AND heavy RE oxides; magnet manufacturing 'under discussion', not committed. No location, capacity or timeline; not mentioned in MP's Q2-2026 results — slowest-moving item on the map (▸TBD).
Brazil 2 organizations
# Serra Verde (USA Rare Earth) US-owned
Pela Ema, Goiás · ionic clay
Only operating RE mine in Latin America (since Jan 2024): ionic-clay with all four magnet REs incl. Dy/Tb (→ both chemistries' feed). ~4,000 t/yr TREO by end-2026; Stage 2 under construction → 6,400 t/yr within ~12 months. Combination with USA Rare Earth COMPLETED 4 Sep 2026 (~$2.8B; Serra Verde CEO Thras Moraitis becomes USARE CEO 1 Oct 2026); 15-yr 100% offtake with price floors. Mixed-RE product only — no separation on site. Bench: Aclara (Chile/Brazil clays + Louisiana sep/alloy JV w/ CAP, VAC alliance, ▸2028).
Source: USARE 4-Sep-26 Deal Apr-26
# Aclara — Carina Module (Goiás)
ionic clay · heavy-RE · FS Apr 2026 · pre-FID
Aclara's flagship: ionic-clay deposit in Goiás (same state as Serra Verde) — the only NI 43-101 heavy-RE mineral RESERVE reported from ionic clays. Feasibility study 13 Apr 2026 (six months after PFS): 18-yr life, 4,378 t/yr REO in mixed carbonate incl. 156 t Dy, 27 t Tb, 1,191 t NdPr; capex US$781M; NPV8 US$1.66bn, IRR 26.9%. Continuously operated pilot plant in Goiânia; 'Circular Mineral Harvesting' (no tailings dam, recycled water, replanting). US DFC US$5M technical grant. EIA submitted 2025 (approval was expected ~Dec 2025 — confirm status); FID was guided for Q2 2026 and has NOT been announced. Startup guided H2 2028, ramp through 2029. Feeds Aclara's Louisiana separation plant.
Source: ENews Apr-26 Benchmark visit DFC
Chile 1 organization
# Aclara — Penco Module (Biobío)
ionic clay · RCA granted Jun 2026
Aclara's original project (Penco, Biobío): ionic-clay heavy-RE, 27.5 Mt M&I. Environmental permitting was the long pole — 2021 EIA withdrawn, resubmitted, final addendum early 2026, favorable consolidated evaluation report, then UNANIMOUS RCA approval 9 Jun 2026 (1,000+ citizen observations from 255 participants; 100+ ha conservation, 100% recycled water, no tailings). Design 320 t clay/hr → super-pure RE carbonate (SPREC). Feasibility study Q4 2026; 2027 detailed engineering/early works; commissioning from mid/Q3 2028. No FID yet. Historically the community-opposition flashpoint — the RCA is a real de-risking event.
Source: RCA Jun-26 MiningWeekly Apr-26 Aclara
South Africa 1 organization
# Steenkampskraal Monazite Mine (SMM)
Western Cape · ~14.5% TREO · Th-rich · Phase-1 concentrator u/c
Historic Anglo American thorium/monazite mine; world-leading grade (~14.4-14.5% TREO ROM; ~2.1% Th). Control now runs through Bora Mining Investments (strategic stake Feb 2024; Prof Enock Mathebula exec chair; Graham Soden CEO) — Bora is also the mining contractor. NNR authorization to exit care & maintenance (Sep 2024) + contractor engagement (Jun 2025). IDC-funded Phase-1 concentrator in four tranches from Sep 2025 (amount undisclosed); GROUNDBREAKING 22 Apr 2026; design 13,400 t/yr monazite concentrate at >50% TREO (~6,700 t TREO). Company targets: commissioning Aug 2026, first revenue before end-2026 — NO commissioning/first-concentrate announcement found as of 10 Sep 2026 after prior slips (Q4-2024 → Q2-2026 → Aug-2026). Downstream 'six-phase' plan (Ce/La removal, magneto-electrochemical separation w/ 'Remedy Group', fluorination, metallization) is unfunded and rests on obscure counterparties; Mintek lab-scale mixed-RE product (Jun 2026) is cracking, not separation. Thorium → Thor Medical (Pb-212 therapy) MoU; Necsa. Offtakes claimed but unnamed. Product for the magnet chain = Th-bearing monazite concentrate needing a foreign cracker. SA produces zero RE today (USGS MCS 2026; reserves 860 kt). Bench (pre-FID): Rainbow Phalaborwa (phosphogypsum, ~1,865 t NdPr + ~80 t Dy/Tb via SX, US$326M, DFS slipping, DFC/TechMet US$50M undrawn, first production 2028-30); Frontier Zandkopsdrift (revived 2026: Carester tech + 7-yr offtake, IDC US$20M, ~3,038 t NdPr + 114 t Dy + 25 t Tb, DFS H1-2027, production ~2030 with separation at Lacq); Galileo/Glenover stalled.
Source: MW groundbreaking MW 6-phase REEx Jun-26 Rainbow Frontier
Vietnam — foreign-owned plants + domestic upstream 6 organizations
# Dong Pao — Lavreco (Vimico/Vinacomin)
Lai Chau · largest deposit · never mined
Vietnam's largest RE deposit (licensed 2013-14: 11.3 Mt ore / ~1.1 Mt TREO; planned 75,800 t/yr concentrate) — NEVER MINED in 12 years. Lavreco loss-making, VND 137bn tax enforcement (Aug 2025); sources conflict on whether the investment certificate was revoked (May 2026) or re-licensing is under way (Nov 2025). New licenses must pair mining with ≥95% TREO processing → drawn Mining→Separation ▸TBD. Live work is pilot-scale only: Hanoi hydromet sandbox (100 kg ore/hr, 100 t total, >95% mixed TREO; Sep 2026) and a KIGAM/KOMIR/ITRRE 2,000 t/yr mixed-REO design study. Blackstone/ASM/VTRE MoU (2023) dormant; Trident/Hung Hai claims not credible. Decision 866 targets (2 Mt ore, 20-60k t REO by 2030) are ~3 orders of magnitude from reality. Chinese separation technology is legally unexportable (Dec 2023 catalog), which closes the fastest route.
Source: CafeF Nov-25 VietnamPlus REEx Aug-26 ASM Q3-25
# Vietnam Rare Earth JSC (VTRE)
Hanoi/Yen Bai · imported feed · distressed
Vietnam's only domestic RE separation plant (light RE; 5,000 t/yr nameplate) — but it runs on ~1,000 t/yr of IMPORTED 99% RE material (Australia/Russia), not Vietnamese ore. 2019-23 processed ~3,500 t of illegally mined Yen Phu ore → 482 t product; chairman jailed 16 yrs (May 2025 verdict; 23 of 27 defendants imprisoned incl. ex-deputy minister). Alleged Shenghe (CN) ownership link (single source, unverified). Treat as a distressed toll separator. Vietnam mine output: 150 t REO in 2025 (USGS, inferred from Chinese customs); raw-ore export banned from Jan 2026 (Geology & Minerals Law amendment).
Source: USGS MCS26 France24 VnExpress Soha May-26
# Shin-Etsu Magnetic Materials Vietnam (SMMV) Japanese parent
Japanese subsidiary, Dinh Vu IZ, Hai Phong. Est. 2012 (separation/refining — on Shin-Etsu's own IMPORTED oxide/salt feed, not Vietnamese ore; captive to the magnet line) + magnet plant 2016; 2018 expansion made it INTEGRATED separation→press→sinter; Factory 3 Phase 1 completed Mar 2023 → ~2,000-2,200 t/yr. Machining/finishing at other Shin-Etsu SE-Asia sites. Fully built out — no 2025-26 expansion announced. The biggest, most-integrated magnet operation in Vietnam. Recycling: reported as industrial-scale hydrometallurgical magnet recycling at Hai Phong since 2013, inside Shin-Etsu's own separation circuits, taking both its own manufacturing scrap and used magnets returned from customers. Volumes undisclosed; the 2,200 t/yr figure in circulation is magnet capacity, not recycling.
# Baotou INST Magnetic (Vietnam) Chinese parent
Cam Khe IP, Phu Tho · assembly-scale
CHINESE SUBSIDIARY (parent Baotou INST Magnetic New Materials, ChiNext 301622; Apple-chain magnetic-device/assembly specialist). Sep 2026: CONFIRMED OPERATING — 'INST Magnetic New Materials Vietnam Co., Ltd.', Lot CN07-03 Cam Khe Industrial Park, Phu Tho (NOT Hai Phong), active in customs/trade records; approved Jun 2023, started ~Sep 2023 in a leased shell with 'a few million dollars' — i.e. magnet assemblies/finishing, not a sintering plant. No 2024-26 reporting on capacity. (Peer Magsound abandoned its Vietnam plan.)
Source: Reuters 2023 Panjiva INST
# Star Group — SGI Vina Korean parent
Korean subsidiary — SGI Vina Co., $80M plant in Bac Chu Lai Industrial Park, Quang Nam. OPERATING since ~Feb 2025; 4,000 t/yr sintered NdFeB; 1,050 jobs; inputs PrNd/DyFe/TbH (non-China). Serves Hyundai/Mercedes/Stellantis. LinkedIn-promoted.
Source: TheInvestor
# LS Eco Energy + Lynas (Vietnam) Korean parent
LSCV · Sm metal first
Korean subsidiary (LSCV, Ho Chi Minh; ~US$21M / KRW 28.5bn committed Dec 2025) — metal-conversion lines being added INSIDE the existing plant (brownfield). ~2,500 t/yr RE metals: SAMARIUM (defense) mass production from H2-2026; Dy/Tb/NdPr for robotics/EV/wind from 2027. Sep 2026: Lynas framework (26 Mar 2026) hardened into KRW 30bn-each-way cross-investment in convertible bonds (27 Jul 2026) → ON TRACK / arguably ahead. Feeds LS Cable magnets (Korea + Chesapeake VA). Heavily LinkedIn-promoted. NB: metal from LYNAS oxide — adds no Vietnamese mining or separation.
Source: Lynas/ASX SEDaily Jul-26 SEDaily Mar-26
What has changed
Corrections and revisions are recorded here with the date they were made, rather than folded silently into the data. If you cited an earlier version of this atlas, this is where you find out whether it moved.
- The chart has an eighth column, Recycling, at the far right of the stage row, and 41 of the 107 organizations now carry a bar in it. A solid bar means the organization recovers rare earth from material it did not produce — end-of-life magnets, purchased scrap, e-waste, tailings. A hatched bar means it reprocesses only its own production scrap. Seventeen organizations were added to the directory in the same pass, most of them recyclers that the atlas had no row for: Phoenix Tailings, HyProMag USA, HyProMag Ltd, HyProMag GmbH, Heraeus Remloy, MagREEsource, Geomega Resources, Momentum Technologies, Critical Materials Recycling, REEcycle, Jiangsu Huahong Technology, China Rare Earth Tianma, GEM Co., the Daikin air-conditioner compressor consortium, DOWA Eco-System, Attero Recycling and Lohum. An empty cell in the Recycling column means nothing has been published, not that nothing happens: every sintered magnet maker recovers some of its own swarf, and almost none of them publish it, so the column reports disclosure rather than practice. Jiangsu Huahong alone reported 8,794 t of rare earth oxide recovered from scrap in 2025, which exceeds the combined announced capacity of the Western magnet recyclers on this chart.
- Every organization now has its own entry and its own permanent link in the producer directory below, so a single company can be cited without linking the whole atlas.
- Company profiles published for twenty-one organizations, each with founding, ownership, stage-by-stage capacity, reported revenue where a source states one, and the places where public sources disagree. Every figure carries a linked source and a date. Coverage is partial and will extend.
- Company names in the stage chart and in the map's country list now link straight to that company's profile, where one exists. Clicking a country pins its list in place so the names in it can be clicked; clicking the country again, clicking away or pressing Escape releases it.
- MP Materials profile: added a conflicts entry recording that the Dallas Business Journal reported on 18 September 2026 that MP delivered its first magnets to General Motors, while MP's own public comment the same day described itself only as producing magnets for GM's traction motors, and its CFO had placed the start of commercial deliveries at year-end 2026, six days earlier.
- USA Rare Earth profile: added a conflicts entry noting that the 9 September 2026 Blacksburg groundbreaking release's claim of 10,000 t/yr combined capacity with Stillwater exceeds the company's own published Blacksburg and Stillwater figures, which sum to 7,600 t/yr.
- Vulcan Elements + ReElement profile: the Marion Phase 1 capacity row now records that the first commercial-scale production column commissioned there, in August 2026, processes germanium rather than rare earths, and a Minor Source air permit covering all four planned Phase 1 lines was received 19 August 2026; a new conflicts entry distinguishes a separate $25 million Department of War investment (13-14 July 2026) from the existing $1.4 billion in conditional commitments, and another records the North Carolina Utilities Commission's 31 August 2026 procedural waiver for a Benson transmission line against Vulcan's own public description of it as a full construction approval.
- Lynas Rare Earths profile: ownership now records the company's 2 September 2026 confirmation to Reuters that it held takeover discussions earlier in 2026 that did not proceed.
- Ningbo Yunsheng profile: capacity table now also carries H1 2026 finished-magnet sales of 7,190 t, alongside the existing FY2025 annual figure.
- Company profiles published for seven additional organizations: Hangzhou Permanent Magnet Group (HPMG), Ningbo Ninggang, Chengdu Galaxy Magnets, Golden Dragon Rare Earth, Ningbo Konit (Koningda), Magnetfabrik Schramberg (MS-Schramberg), and Magneti Ljubljana. An eighth candidate, "Ningbo XMag," could not be resolved to a single verifiable public identity and was not published; three non-matching candidate entities were found under similar branding.
- Company profiles published for nine additional organizations: China Northern Rare Earth, China Rare Earth Group, Santoku, Electron Energy Corporation (EEC / Permag), Dexter Magnetic Technologies / MCE (part of Permag), Integrated Magnetics, Adams Magnetic Products, Less Common Metals (LCM), and Solvay's La Rochelle rare-earth separation business. Two items surfaced during research remain unresolved as of publication: unconfirmed, single-sourced reports of talks between China Rare Earth Group and Shenghe Resources, and between Solvay and OneIM, over possible ownership or investment changes; neither is treated as confirmed.
- Company profiles published for the three organizations flagged as unwritten in the company-profiles handoff: Baotou Tianhe Magnetics, Advanced Technology & Materials (AT&M), and Zhejiang Innuovo Magnetics. The open identity question on Zhejiang Innuovo's stock code is resolved: Shenzhen 000795 is confirmed correct for Innuovo Technology Co., Ltd., the listed parent; Shanghai 603072, once suggested as a possible alternative, belongs to the unrelated Baotou Tianhe Magnetics and is not connected to Innuovo or Hengdian Group.
- Data revision 1.9: 90 organizations across 22 countries.
Mehr von Peculiar Materials (auf Englisch)
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