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NOVEON MAGNETICS AND LYNAS RARE EARTHS PARTNER TO ADVANCE U.S. RARE EARTH MAGNET SUPPLY CHAIN
Noveon Magnetics, the only operational U.S. manufacturer of sintered rare earth magnets, and Lynas Rare Earths, the world's only commercial producer of separated light and heavy rare earth oxides outside of China, today announced the signing of an Memorandum of Understanding (MoU) to form a strategic partnership aimed at establishing a scalable and domestic U.S. supply chain for rare earth permanent magnets. The MoU is non-binding and subject to the negotiation of definitive agreements.
About this update from Lynas Rare Earths Limited
[{"type":"text","content":"Partnership to Deliver Sustainable Supply of Rare Earth Permanent Magnets to U.S. Defense and Commercial Sectors","length":112,"tagName":"p","attribs":{}},{"type":"text","content":"SAN MARCOS, Texas, Oct. 8, 2025 /PRNewswire/ -- Noveon Magnetics, the only operational U.S. manufacturer of sintered rare earth magnets, and Lynas Rare Earths, the world's only commercial producer of separated light and heavy rare earth oxides outside of China, today announced the signing of an Memorandum of Understanding (MoU) to form a strategic partnership aimed at establishing a scalable and domestic U.S. supply chain for rare earth permanent magnets. The MoU is non-binding and subject to the negotiation of definitive agreements.","length":543,"tagName":"p"},{"type":"image","alt":"Noveon and Lynas logos","displaySize":"","headline":null,"caption":"Noveon and Lynas logos","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":70,"url":"https://media.zenfs.com/en/prnewswire.com/814e5c1d3e9a055987de4ca60b512aef"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/kwsSpsj4WEGSowCulxVd9Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEyMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/814e5c1d3e9a055987de4ca60b512aef","width":400,"height":70}},"href":"https://mma.prnewswire.com/media/2791481/Noveon_Lynas_Lockup_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Under the agreement, the companies will collaborate to develop a rare earth value chain in the U.S., from the supply of separated rare earth oxides to the manufacturing of rare earth permanent magnets to serve key U.S. defense and commercial customers. The scope of the agreement includes the provision of both light rare earth (LRE) and heavy rare earth (HRE) materials, developing expanded metal, alloy, and magnet production, and supplying high performance finished magnets to end-users across defense, automotive and industrial sectors.","length":540,"tagName":"p"},{"type":"text","content":""Partnering with Lynas Rare Earths will allow our two companies to build on our proven capabilities to accelerate the development of a secure and sustainable domestic magnet supply chain," said Scott Dunn, CEO of Noveon Magnetics. "Together, we can offer a total solution today, not five years from now, that meets immediate U.S. economic and...