Vulcan Elements Enters US Rare Earth Magnet Manufacturing Race

Vulcan Elements Drives US Rare Earth Magnet Manufacturing Forward

Vulcan Elements recently signed a supply deal with ReElement Technologies, signaling a major push into the US rare earth magnet market. The agreement offers prices significantly below the $110 per kilogram floor guaranteed by the US Department of Defense to MP Materials. Vulcan aims to compete globally by providing cost-effective, domestically sourced magnets critical for electric vehicles, defense, and electronics.

The company raised $65 million in Series A funding to expand its commercial-scale facility in Durham, North Carolina. Vulcan’s CEO John Maslin emphasizes the importance of strong unit economics to ensure competitiveness. The startup won the Advanced Manufacturing Innovation for Maritime Readiness Challenge, highlighting its rising prominence in a market long dominated by China.

Focus on Rare Earth Magnet Supply Chain Resilience

Vulcan Elements focuses on neodymium iron boron magnets, with a key emphasis on boron, a mineral overlooked in the US supply chain. Maslin’s experience in naval nuclear programs shaped the company’s mission to build a resilient supply chain free from geopolitical risks. Vulcan sources 100% of its materials from US or allied mines, including recycled sources, ensuring traceability and ethical procurement.

Since opening in March 2024, Vulcan has begun delivering qualified magnet samples. The company is now preparing for large-scale production. It targets several hundred tons of output within two years and aims for thousands by decade’s end. Vulcan’s strategy blends defense and commercial goals, strengthening US rare earth magnet independence.

SuperMetalPrice Commentary:

Vulcan Elements’ rise marks a pivotal shift in the US rare earth magnet industry. By offering competitive pricing and fully traceable, allied-sourced materials, the company addresses critical supply chain vulnerabilities. As demand for magnets skyrockets in EVs, defense, and tech, Vulcan’s expansion will enhance US strategic autonomy and reduce dependence on China. Its success could inspire further investments in domestic critical minerals, supporting long-term industrial and national security goals.