US Magnet Business History
2002
Mountain Pass, CA rare earth mine with world’s richest reserves suspends operations
2003
Magnequench (Former GM subsidiary, inventor of NdFeB technology, under Chinese ownership since 1995) closes Anderson, IN plant and moves to equipment to China
2003
VAC closes then moves Elizabethtown, KY operations to Germany and Slovakia
2004
China National Offshore Oil Corporation attempt to purchase Unocal, owner of Molycorp and its RE mine
2005
Neomax (Sumitomo/Hitachi Metals, acquired from GE in 1973) closes its Edmore, MI production facility and imports from Japanese and Korean production sources
Numerous changes of ownership and industry consolidation
2006
USMMA is formed
2009
Arnold Magnetic Technologies announces its intent to produce rare earth magnets within the U.S.