Construction work on the $46m Fort Worth Rare Earth Magnet Manufacturing Plant located in Fort Worth, Texas, the US commenced in Q2 2022. It was announced in Q4 2021.

The project involves the construction of an 18,581m2 manufacturing facility in Fort Worth, Texas, the US.

The project includes the following:

1. Construction of production units
2. Construction of a storage facility
3. Construction of parking spaces
4. Installation of machinery and equipment
5. Installation of safety and security system

Construction on the project is expected to be completed by Q4 2023.

Owners of the project include the US-based MP Materials.

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