GlobeNewswire·Jun 2, 2026, 9:00 AM ET

USA Rare Earth Selects Cherokee County, South Carolina for New Rare Earth Metal and Magnet Manufacturing Operation

USA Rare Earth selected Cherokee County, South Carolina, as the site for a new magnet manufacturing & refined metals facility in the Bailey Industrial Park in Blacksburg.
The project is expected to create approximately 490 high-skill, high-wage jobs & involves an investment of about $1.2 billion.
The Blacksburg facility will target a production capacity of 6,400 metric tons per annum (tpa) of NdFeB magnets & 5,000 tpa of strip-cast, metal, & alloy products.
Combined with the Stillwater, Oklahoma facility, total domestic capacity is expected to reach 10,000 tpa for both magnets & heavy rare earth strip-cast, metal, & alloy production.
Engineering work & equipment procurement are underway, with site work expected to commence soon & commissioning targeted for 2028.
The selection was driven by a robust incentives package, reliable power from Duke Energy, access to a skilled workforce, & proximity to defense & aerospace customers.
The facility will support critical industries including defense, aerospace, semiconductors, medical, AI, & energy by providing a secure, traceable rare earth value chain.
The project complements the Company's integrated mine-to-magnet value chain spanning operations in Texas, Colorado, Brazil, the UK, & France.
Quotes from Company CEO Barbara Humpton, South Carolina Gov. Henry McMaster, & other officials emphasized the strategic importance of reducing dependence on China for critical minerals.