Vulcan Elements to Build $1B Magnet Factory in N.C.

Energy Fuels Inc. has produced the first U.S. primary terbium oxide in decades, reaching 99.9% purity for high-performance magnets vital to aerospace systems like aircraft engines and satellites, reducing reliance on Chinese supplies.

The U.S. Department of Defense is securing domestic samarium production to safeguard advanced aircraft systems and weapons platforms from Chinese supply dominance. Modern fighter jets and satellites rely heavily on rare earth magnets that cannot withstand extreme temperatures without samarium-cobalt composition, creating a critical national security bottleneck.

Critical rare earth elements like yttrium, samarium, and dysprosium are becoming scarcer, threatening jet engine production and satellite systems as the aerospace and defense sectors compete for materials dominated by Chinese suppliers. New processing facilities outside China are emerging to address the crisis.

Escalating shortages of yttrium, a vital rare earth for high-temperature engine coatings, are forcing North American suppliers to ration supplies and pause production, endangering aerospace manufacturing amid U.S.-China trade tensions.

China's ongoing restrictions on heavy rare earth elements like dysprosium and terbium are creating supply bottlenecks for the aerospace sector in 2026, threatening production of high-performance magnets essential for aircraft engines, avionics, and satellites.