USA Rare Earth cuts ribbon on new lab in Stillwater
STILLWATER, Okla. (KFOR) — Rare earth minerals is a term we've heard a lot since President Trump took office. The U.S. needs them and other countries have them. The country's first fully domestic mine-to-magnet rare earth supply chain is under construction in Stillwater.
The ribbon was cut Tuesday on the new USA Rare Earth lab in Stillwater. The company is capable of building small rare earth magnet prototypes.
"It translates electricity into motion," said Josh Ballard, CEO of Rare Earth.
"Everyone wants smaller lighter motors with lots of energy in them," said Bob Fredette, Director of Magnet Operations. "the only way do that is centered neodymium iron boron magnets."
Fredette, also known as "Magnet Bob,' said these magnets are in everything from your smartphone, to electric vehicles, and even fighter jets.
"Your life would cease to exist as you know it without these rare earth magnets," said Fredette.
They're also the strongest magnets known to man.
"You can see how strong they are. Right through your hand," said Fredette. "If you smack them together they're even harder to break apart."
Ballard said right now, China controls a majority of the supply chain.
"We have this choke-point with china where they can basically control what technologies we can build and what we cannot," said Ballard. "That's not a good place to be."
Now, the US is trying to take advantage of rare earth state-side.
"We're also pursuing energy and mineral deals all over the world," said Stephen Miller, the White House Deputy Chief of Staff at a recent press conference.
Staying in the USA, once their mine at Round Top Mountain is up and running, the long-term goal is to process minerals in Texas. Then, it will ship processed minerals to this 310,000 sq/ft facility to make hundreds of millions of magnets.
"This facility, once it’s fully complete, will be the largest domestic-centered magnet facility in the united states by a long shot," said Ballard.
Ballard said Stillwater was strategically chosen.
"There's low-cost electricity here, there's plenty of water," said Ballard.
The goal is also to attract engineers from OSU and create a couple hundred new jobs in Stillwater.
"It also just increases activity in town right? More visitors around town," said Mayor Will Joyce of Stillwater. "That rising tide lifts all boats."
The plant's full potential will take a couple of decades to realize, but Stillwater is excited to be at the center of the red hot rare earth industry.
"We can find all of that here in Oklahoma," said Ballard.
The goal is to start commercial manufacturing the magnets by early next year.