
Wood and Niron Magnetics Partner to Build World’s First Rare-Earth-Free Magnet Plant in Minnesota
Wood and Niron Magnetics are building the world’s first large-scale plant for rare-earth-free permanent magnets in Minnesota. Slated for 2027, the facility will produce 1,500 tons of powerful Iron Nitride magnets annually from abundant materials, creating a secure U.S. supply for EVs and green tech and challenging China’s rare earth dominance.














