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Wire · technology

MP Materials launches rare-earth magnet initiative

6 August 2026 · By · Wire by Fusion42

Published

6 August 2026

Topic

technology

◆ Sectors

Industrial

◆ Geography

United States

◆ Source

Read at manufacturingdive.com →

◆ Verified

Fusion42 · 6 August 2026 · Fusion42 review

MP Materials has initiated Project Swarm, a rare-earth magnet production effort that can supply magnet capacity sufficient for up to 2 million drones annually to manufacturers in the US and allied countries, according to Chairman and CEO James Litinsky.

This Wire brief sits within Fusion42's coverage of Industrial.

◆ ◆ The Wire takeaway

You now have a new local source for rare-earth magnets critical in drone manufacturing as MP Materials expands capacity. This cuts reliance on foreign supply chains and opens new production scale opportunities for US and allied drone makers.

◆ Coverage

1 source · 6 Aug 2026

◆ Related on Wire

◆ Topics

Industrialrare-earthmagnetsdronesmanufacturingcritical-mineralsus