North Carolina startup Vulcan gets $1 billion for new rare-earth magnets factory

[shockedcanadian]

I heard Scott Bessent talk about this and had to search for it. He is one of the guys in Trumps admin I listen to as he has a sharp mind.

As it were, Trump pushed for this on his first day in office apparently. This is something he should promote to Americans. "We will no longer be dependent on foreign governments for our critical rare earth minerals".

They should open up multiple such facilities. The best investment for the national security of a nation and consumer products.

Trump should also be pressuring the S Korean, Japanese and EU companies to invest in America as they promised. A quick warning to them, "if you dont invest, the communists are going to take this place over and you will be totally shut out".

https://www.axios.com/local/raleigh/2025/11/03/north-carolina-startup-vulcan-gets-1-billion-for-new-rare-earth-magnets-factory

Vulcan Elements, a Research Triangle Park-based startup trying to re-shore the production of rare-earth magnets, said Monday it's secured more than $1 billion in financing from the federal government and private investors to kick-start its first large-scale factory in the U.S. — one that could be in North Carolina.

Why it matters: Rare-earth magnets have become a notable bone of contention in U.S.-China trade talks, as China currently dominates the supply of rare-earth materials.

• Rare-earth materials are critical components in everything from data centers and electronics, as well as defense systems, drones and missiles.

Zoom in: Vulcan, founded in 2023, has secured a $620 million loan from the Department of War (formerly the Department of Defense) to start construction on a "10,000 metric tonne magnet facility."

• The U.S. Department of Commerce will also add $50 million in incentives from the CHIPS and Science Act, while also taking a $50 million equity stake in the company.
• Additionally, the company says it has more than $550 million in private capital lined up for the factory and is expanding a partnership with Indiana-based ReElement Technologies to scale up the facility.

State of play: Vulcan told Axios it will announce the location of the factory later this month. North Carolina is under consideration for the facility.

• The company already has a small-scale demonstration facility in Durham that has already hit key milestones in production, Vulcan Elements CEO John Maslin told Axios.
• It opened this spring off TW Alexander Drive, though the company declined to say how many people work there.
• "The entire reason we built [that] facility was to go and make sure that we understood every nut and bolt of the commercial equipment that we're going to be using and understanding who our suppliers are," Maslin told Axios. "We've been able to really tighten those dials and sharpen the pencil since we opened to make sure that we understand how that scale-up is going to go and work."

Flashback: The news comes a few months after Vulcan raised $65 million from investors in August, and hit a valuation of $250 million, Axios reported.

 

[Monk-Eye]

" Tariffs Subsidies And Irresponsibility Of Congress "

* Critical Infrastructure Bill Setting In House *

I heard Scott Bessent talk about this and had to search for it. He is one of the guys in Trumps admin I listen to as he has a sharp mind.
As it were, Trump pushed for this on his first day in office apparently. This is something he should promote to Americans. "We will no longer be dependent on foreign governments for our critical rare earth minerals".
They should open up multiple such facilities. The best investment for the national security of a nation and consumer products.
Trump should also be pressuring the S Korean, Japanese and EU companies to invest in America as they promised. A quick warning to them, "if you dont invest, the communists are going to take this place over and you will be totally shut out".

https://www.axios.com/local/raleigh/2025/11/03/north-carolina-startup-vulcan-gets-1-billion-for-new-rare-earth-magnets-factory

Vulcan Elements, a Research Triangle Park-based startup trying to re-shore the production of rare-earth magnets, said Monday it's secured more than $1 billion in financing from the federal government and private investors to kick-start its first large-scale factory in the U.S. — one that could be in North Carolina.
Why it matters: Rare-earth magnets have become a notable bone of contention in U.S.-China trade talks, as China currently dominates the supply of rare-earth materials.

• Rare-earth materials are critical components in everything from data centers and electronics, as well as defense systems, drones and missiles.

Zoom in: Vulcan, founded in 2023, has secured a $620 million loan from the Department of War (formerly the Department of Defense) to start construction on a "10,000 metric tonne magnet facility."

• The U.S. Department of Commerce will also add $50 million in incentives from the CHIPS and Science Act, while also taking a $50 million equity stake in the company.
• Additionally, the company says it has more than $550 million in private capital lined up for the factory and is expanding a partnership with Indiana-based ReElement Technologies to scale up the facility.

State of play: Vulcan told Axios it will announce the location of the factory later this month. North Carolina is under consideration for the facility.

• The company already has a small-scale demonstration facility in Durham that has already hit key milestones in production, Vulcan Elements CEO John Maslin told Axios.
• It opened this spring off TW Alexander Drive, though the company declined to say how many people work there.
• "The entire reason we built [that] facility was to go and make sure that we understood every nut and bolt of the commercial equipment that we're going to be using and understanding who our suppliers are," Maslin told Axios. "We've been able to really tighten those dials and sharpen the pencil since we opened to make sure that we understand how that scale-up is going to go and work."

Flashback: The news comes a few months after Vulcan raised $65 million from investors in August, and hit a valuation of $250 million, Axios reported.

The article 1 section 8 of us constitution commerce clause directs that congress is responsible for general welfare , that includes degrees of responsibility in economic planning , especially in manufacturing of critical infrastructure and especially in assurances for self sufficiency and increases in general welfare .

During the elevated growth in technology , us congress has abandoned an american school of economics an entreated extreme perspectives of economic libertarianism ( economic liberalism ) , where taxes are paid as us companies to take advantage of us government enforcement of contracts and trade policies , while otherwise acting without allegiance to overall us national interests such as general welfare or national security .

. https://www.congress.gov/bill/119th-congress/senate-bill/1872/text# .

House - 11/10/2025 Held at the desk.

[th]

Latest Action:​

[/th]​

119th CONGRESS 1st Session​

S. 1872
​

---

AN ACT​

To direct the Secretary of Commerce to conduct a study on the feasibility of manufacturing in the United States products for critical infrastructure sectors, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Short title.
This Act may be cited as the “Critical Infrastructure Manufacturing Feasibility Act”.
SEC. 2. Study on critical infrastructure manufacturing in the United States.

(a) Definition of critical infrastructure sector.—In this section, the term “critical infrastructure sector” means each of the 16 designated critical infrastructure sectors identified in Presidential Policy Directive 21 of February 12, 2013 entitled “Critical Infrastructure Security and Resilience”.
(b) Study.—Not later than 1 year after the date of enactment of this Act, the Secretary of Commerce shall conduct a study to—
(1) identify, within each critical infrastructure sector, any product—
(A) necessary for the construction, maintenance, operation, or restoration of the critical infrastructure sector; and
(B) that is in high demand and is being imported due to a manufacturing, material, or supply chain constraint in the United States;
(2) analyze the costs and benefits of manufacturing in the United States any product identified under paragraph (1), including any effects on—
(A) jobs, employment rates, and labor conditions in the United States; and
(B) the cost of the product;
(3) identify any product identified under paragraph (1) that feasibly may be manufactured in the United States;
(4) analyze the feasibility of, and any impediments to, manufacturing any product identified under paragraph (3) in—
(A) a rural area;
(B) an industrial park; or
(C) an industrial park in a rural area; and
(5) identify any Federal policies, regulations, or guidance in effect that may inhibit, create barriers to, or increase the cost of manufacturing a product identified under paragraph (1) in the United States.
(c) Report to Congress.—Not later than 18 months after the date of the enactment of this Act, the Secretary of Commerce shall—
(1) submit to Congress an unclassified report, which may include a classified annex, containing the results of the study required by subsection (b), with recommendations relating to manufacturing in the United States products identified under subsection (b)(3); and
(2) make the unclassified report available to the public on the website of the Department of Commerce.
(d) Limitation on authority.—This section may not be construed to provide the Secretary of Commerce with authority to compel a person to provide information described in this section.
Passed the Senate November 4, 2025.