Florida Magnet Mine Company Secures Defense Funding to Restart Domestic Production

The next-generation production of samarium and gadolinium is expected to make up for a shortage of the rare earth metals after China banned exports in 2025.

An F-35C Lightning II preparing for launch on the flight deck of the USS Abraham Lincoln at an undisclosed location in the Middle East, on March 2, 2026. U.S. Navy via AP

A rare-earth mine company, REalloys Inc., announced on March 2 that it has been awarded a $1.7 million federal defense contract to be the first company to re-establish domestic production of metals needed for national security after China banned exports in 2025.

The Florida-based company plans to design next-generation, environmentally friendly facilities to produce samarium and gadolinium metals used in stealth radars, nuclear reactors, jets, and other defense applications.