The administration is accelerating a push to build domestic rare earths and critical minerals, casting it as a core national-security and economic initiative to reduce dependence on China.

MP Materials secured a $400 million Pentagon investment alongside a $150 million loan, paired with a plan to guarantee magnet production and set a decade-long minimum price for neodymium and praseodymium.

U.S. output is far below demand for magnets, with roughly 35,000 tons per year needed domestically, and demand could roughly double over the next decade.

Analysts acknowledge real hurdles: new mines and processing facilities are years away, and securing long-term Chinese cooperation or alternative supplies remains uncertain.

NioCorp plans to raise about $1.2 billion to develop Nebraska-based mines for niobium, titanium, scandium, and rare earths, illustrating a broader push to expand domestic production.

Legislation from 2024–2025 funds and policies are converging to secure supply chains and reduce China’s dominance in critical minerals.

USA Rare Earth aims to begin producing rare-earth magnets in 2025, with its CEO describing the effort as a ‘Manhattan Project moment’ for rare earths.

Noveon Magnetics, operating near Austin, is scaling to about 2,000 tons of magnets annually, joining MP Materials and others in expanding the U.S. magnet supply chain.

The government is injecting hundreds of millions into the sector and implementing measures like a minimum price for some U.S.-produced minerals, along with investigations into foreign-made supplies.

Business leaders and policy experts express cautious optimism, noting progress but emphasizing that true self-sufficiency will take time and may require ongoing negotiations with China.