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Magnet plant would be the first of its kind in the U . S .
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By late 2023 , USA Rare Earth LLC should begin producing powerful magnets formed from alloys of rare earth minerals that have strong conductive and magnetic properties in its new facility at 100 W . Airport Road . The magnets are found in almost all modern electronics , from the consumer market to medical equipment and military technology .
Banners at the entrance to the industrial facility at 100 W . Airport Road reflect its new ownership . The USA Rare Earth factory , which will produce powerful magnets used in most electronics , expects to be producing prototypes in 2023 .
“ The phone you ’ re talking on contains about 10 of them , an iPad contains about 100 ,” USARE CEO Thayer Smith said .
Until now , China has dominated both the mining and manufacturing of rare earth elements , putting other nations in a dependent position .
In recent years , China has begun using more of the magnets in finished products as opposed to exporting them , even as the global market continues to grow .
In 2020 , the company announced it had acquired manufacturing equipment to re-establish rare earth magnet production in the U . S .
The U . S . government has made establishing a reliable domestic supply chain for them a national priority and is backing that with tax incentives for companies that mine and manufacture the critical materials .
USARE is also receiving economic development incentives from the Oklahoma Department of Commerce and the City of Stillwater for the Stillwater project , which will move into a 350,000-square-foot industrial building formerly occupied by Total Energy .
Company representatives say the factory , which will produce permanent magnets — meaning they don ’ t lose their charge — from neodymium , iron and boron , will be the first of its kind in the Americas . The NdFeB magnets are the most powerful commercially available .
The production line will be able to produce 2,000 tons of high-performance magnets annually , according to the company . That ’ s about 17 % of the 2019 U . S . demand . It plans to be in full operation within 12-18 months .
USARE looked at more than 50 sites in the southern part of the country but Smith said the final decision to locate their manufacturing facility in Stillwater was based on a combination of factors . Finding a suitable facility that could be renovated instead of building was a major selling point , as was having access to sufficient electric power at reasonable rates and a local workforce .
The educational system , including Oklahoma State University and Meridian Technology Center , was another attractive thing about Stillwater .
But in the end , it was Oklahoma ’ s business environment that ultimately sealed the deal .
“ Oklahoma was the most proactive ,” Smith said . “ I can ’ t compliment the city and state enough .”
When at full capacity , it should employ at least 100 people .
STORY AND PHOTO BY Michelle Charles michelle @ stilwaternewspress . com
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