Noveon and Lynas partner to boost US rare earth magnet supply

Noveon Magnetics, a U.S. manufacturer, and Lynas Rare Earths, a commercial producer of separated light and heavy rare earth oxides outside of China, announced a memorandum of understanding on October 8, 2025. The non-binding MoU aims to form a strategic partnership to develop a scalable U.S. supply chain for rare earth permanent magnets, targeting both defense and commercial sectors.

The partnership will focus on developing a U.S. rare earth value chain, encompassing the supply of separated rare earth oxides, expanded metal, alloy, and magnet production, and the delivery of high-performance finished magnets for defense, automotive, and industrial applications. This initiative directly responds to supply chain disruptions and end-user demand.

Both companies are committed to working with U.S. policymakers, agencies, and customers to ensure supply continuity. This partnership supports Lynas' "Towards 2030" growth strategy and aims to provide U.S. manufacturers with a secure and traceable supply of high-performance magnets.