U.S. Rare-Earth Magnet Supply Chain Partnership

San Marcos, Texas - Noveon Magnetics and Lynas Rare Earths signed a non-binding Memorandum of Understanding to build a scalable, domestic U.S. supply chain for rare-earth permanent magnets.

The partnership pairs Noveon, the only operational U.S. sintered rare-earth magnet manufacturer, with Lynas, the sole commercial producer of separated light and heavy rare-earth oxides outside China. The companies will collaborate across the value chain - from separated oxides (LRE and HRE) through metal, alloy and magnet production to finished, high-performance magnets for defense, automotive and industrial customers.

Scope includes expanded alloy and magnet capacity, greater use of recycled feedstock, and a fully traceable supply chain designed to meet urgent national security and commercial electrification needs. The MoU is subject to definitive agreements and aims to accelerate near-term deliveries rather than deferring capacity for years.

Both firms pledged to work closely with U.S. agencies and customers to ensure continuity, scalability and protection of the supply chain. The combination of Lynas’s upstream processing and Noveon’s downstream manufacturing (including resource-efficient EcoFlux capabilities) targets faster domestic availability of magnets used in EVs, wind turbines, robotics and defense systems.