NORTHLAKE, TEXAS — MP Materials (NYSE: MP), the leading American producer of rare earth materials and permanent magnets, has selected Northlake for its new $1.3 billion rare earth magnet manufacturing campus.
CBRE arranged the sale of the site, which is situated within the 27,000-acre AllianceTexas master-planned development in the Dallas-Fort Worth metroplex, on behalf of the developer, Hillwood.
The new site, dubbed “10X,” is expected to serve as the center of the United States’ rare earth magnet supply chain. It is located less than 10 miles from MP’s existing “Independence” facility in Fort Worth, which began commercial production in 2025 as a 250,000-square-foot downstream center for rare earth metal, alloy and magnet production.
10X is the result of MP Materials’ previously announced public-private partnership with the U.S. Department of War (DoW), which was established in July 2025 to accelerate U.S. rare earth magnet independence, according to the company’s press release. The DoW holds a 15 percent stake in the company.
“10X is about building industrial strength at a scale the United States has not seen in generations, and the exceptional talent and infrastructure in North Texas make it possible,” says James Litinsky, founder, chairman and CEO of MP Materials. “We are advancing key objectives under our public-private partnership with the Department of War and accelerating America’s rare earth and magnet independence with an uncompromising focus on speed, execution and delivery.”
10X will create more than 1,500 manufacturing and engineering jobs at the site, which will break ground immediately. Engineering and equipment procurement is already underway, with production set to begin in 2028.
The facility will use rare earth raw materials that have been sourced and processed at MP Materials’ Mountain Pass mine in California, which is the only commercial-scale rare earths mine in the country, according to MP Materials.
Once operational, 10X will produce roughly 7,000 metric tons of rare earth magnets annually, bringing the company’s total production to 10,000 metric tons per year, as reported by CNBC.
Founded in 2017, MP Materials holds a long‑term magnet supply agreement with General Motors and has announced a collaboration with Apple to build $500 million rare earth recycling and magnet production system. The Las Vegas-based company’s stock price open at $58.54 per share on Friday, Feb. 27, up from $23.46 one year ago, a nearly 150 percent increase.
— Abby Cox