US legislation introduced to support domestic rare earth magnet production

By William Clarke
Published: Wednesday, 11 August 2021

Legislation has been introduced in the United States that will provide tax credits for rare earth magnet production in the country.

The bill, introduced in the US House of Representatives on Tuesday August 10, will provide a $20 per kg tax rebate for neodymium-iron-boron magnet production in the US.

The tax rebate will rise to $30 per kg for magnets produced from US-mined rare earths.

Rare-earth magnets comprise around 30%...

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