Niron gets $150M loan to build iron nitride magnet manufacturing plant in Minnesota
Writer: Amanda Stutt |
Date: 2026-08-18 23:36:00
This text was initially revealed by MINING.COM. The title and a short excerpt are supplied for informational and reference functions. Readers ought to go to the unique writer for the whole article, supporting context, pictures, and any subsequent updates.
Niron Magnetics introduced Tuesday it has acquired a $150 million mortgage from the Shakopee Mdewakanton Sioux Neighborhood (SMSC) to advance development of its magnet manufacturing plant in Sartell, Minnesota.
The corporate is working in direction of commercializing what it mentioned would be the world’s first rare-earth-free iron nitride everlasting magnets.
The funding, it mentioned, will help gear and operational readiness actions at Niron’s Sartell plant,…
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