- Developments of MP Materials in the US: MP Materials, a leading rare - earth company in the US, recently launched the trial production of neodymium - iron - boron magnets in Texas. It plans to gradually increase production, with an initial target of 1,000 tons per year, and it may reach 2,000 - 3,000 tons in the future. It mainly supplies US manufacturers such as General Motors. It has a full - industry - chain model from mines to magnets. It may receive support from the US Department of Defense in the military and high - tech fields, but it faces the pressure of competing with China's low - cost production and global overcapacity.