MP Materials (MP) announced that it received a $58.5-million award to advance the construction of its fully integrated rare earth magnet manufacturing facility. This will be the first of its kind facility in the United States, with a capacity to produce approximately 1,000 tons of Neodymium-iron-boron (NdFeB) magnets annually. MP Materials began construction on its manufacturing site in Fort Worth, TX, in April 2022. It plans to start the commercial production of precursor materials in Fort Worth in the sum ...