And $94m from DOD! ‘
E-Vac to build rare earth magnet plant in South Carolina E-Vac Magnetics, US subsidiary of German magnet manufacturer VAC Group, announced plans on Thursday December 14 to build a sintered neodymium iron boron (NdFeB) rare earth magnet plant in the US city of Sumter, South Carolina December 14, 2023’
……
‘Earlier this week, the US House of Representatives Select Committee on Strategic Competition between the US and Chinese Communist Party released a report outlining a large number of recommendations to Congress to strengthen supply chain resiliency.
These include the enactment of the Rare Earth Magnet Manufacturing Production Tax Credit Act (H.R. 2849) to establish a $20 per kg tax credit for light and heavy rare earth magnetsmanufactured in the US and a $30 per kg credit for US manufactured magnets where 90% of the component materials are produced domestically…’
https://www.fastmarkets.com/insights/e-vac-to-build-rare-earth-magnet-plant-in-south-carolina/
And $94m from DOD! ‘ E-Vac to build rare earth magnet plant in...
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