Evolution Metals & Technologies Corp. (EMAT) issued a statement on August 20, 2026, regarding the U.S. rare earth magnet crisis. The company is currently commercially producing these critical magnets for consumer, industrial, and military applications.
EMAT prioritizes manufacturing magnets from scrap and pre-separated metals rather than traditional mining. This strategy avoids the radioactive thorium often associated with extracting new materials.
China currently controls approximately 94% of global rare earth magnet production. EMAT aims to decouple the U.S. from Chinese-processed materials ahead of upcoming defense sourcing deadlines.