Five companies expand US rare earth processing capacity

Tactical Resources, USA Rare Earth, MP Materials, Energy Fuels and NioCorp are advancing mining, processing and magnet manufacturing in the US. MP Materials produced 840 metric tons of NdPr in Q2 2026, up 41% year over year, while USA Rare Earth is building a $1.2 billion magnet plant in South Carolina.

• MP Materials: 840 t NdPr in Q2, revenue $108.5M, up 89%
• USA Rare Earth building $1.2B metal and magnet plant
• Energy Fuels to spend $104M expanding Utah processing
• NioCorp starts portal construction at Nebraska's Elk Creek