Got some news for you guys from here in USA. I only copy and pasted the first part of article. Here is full article:
https://www.globenewswire.com/news-release/2020/04/07/2012663/0/en/USA-Rare-Earth-Acquires-U-S-Rare-Earth-Permanent-Magnet-Manufacturing-Capability.htmlAlso TMRC just added a former supply acquisition General to its board.
Arafura should get an off take soon from TMRC here in USA. Remember Arafura sent samples to TMRC.
Anyways here is part of the article...
SIERRA BLANCA, TX, April 07, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Texas Mineral Resources Corp. (TMRC):
Texas Mineral Resources Corp. (TMRC), an exploration company targeting the heavy rare earths and a variety of other technology metals and industrial minerals, is pleased to announce that USA Rare Earth LLC, the funding and development partner of the Round Top Heavy Rare Earth and Critical Minerals Project in West Texas, has purchased the neodymium iron boron (NdFeB) permanent magnet manufacturing equipment formerly owned and operated in North Carolina by Hitachi Metals America, Ltd.
Demand for rare earth magnets is being driven by electric vehicles (electric motors and batteries), wind generators (direct drive generators), medical devices (personal “vital signs” monitors and medical imaging machines), smart phones, and aerospace/defense applications, where high-performance in extreme conditions is important.
The $14 billion-a-year rare earth magnet market is more than 60% controlled by China which, under Made in China 2025, is increasingly using rare earth magnets in finished and semi-finished products, as opposed to exporting the magnets. Industry sources estimate the global rare earth magnet market will nearly double by 2027.
The equipment purchased by USA Rare Earth should provide most of what is needed to re-establish rare earth magnet production in the U.S. and, with the addition of some readily available components, can produce at least 2,000 tonnes annually of rare earth magnets.At 2,000 tonnes per year, the USA Rare Earth Magnet Plant would produce approximately 17% of the current U.S. market, and would generate more than $140 million in annual sales (at 2019 prices). At present, no other NdFeB permanent magnet manufacturing plant is operational in the Americas.
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