Current Chemicals is increasing manufacturing of critical rare-earth materials in the US following a fresh investment from its lead shareholder, Momentum Global Ventures (MGV), in a move targeted at reinforcing America’s domestic mine-to-magnet supply chain.
The investment will expand CCI’s Cleveland operations, scaling up manufacturing of neodymium fluoride, dysprosium fluoride and other specialised rare-earth fluorides utilized in production of high-performance magnets, advanced coatings and alloys.
CCI is among a limited number of US companies transforming separated rare-earth oxides into fluorides — an important intermediate material within the manufacturing of rare-earth metals and permanent magnets.
The latest funding will support additional infrastructure, equipment and engineering personnel, allowing the corporation to increase manufacturing of fluorides of neodymium, dysprosium, terbium, gadolinium, yttrium, scandium, lanthanum and lithium, alongside materials used to decrease light rare-earths to metal.
The expansion comes as the US confronted increasing pressure to secure domestic supplies of critical minerals and decrease its reliance on China, which presently dominates a lot of the rare-earth processing industry.
Neodymium and dysprosium fluorides are specially vital as feedstocks for metals used in high-performance permanent magnets. These magnets are vital components in electric vehicle motors, wind turbines and defence systems.
With US defence sourcing rules set to tighten from January 2027, domestic rare-earth conversion capacity is rising as one of the most critical and constrained links in the country’s supply chain.
“Demand for these fluorides is intensifying as upstream rare-earth supply broadens and downstream magnet, coating, and alloy manufacturing increases, and this investment lets us scale rapidly using the infrastructure and process expertise we already have in Cleveland,” said Bill Cohen, CEO & Chairman of Current Chemicals.
“This brought volume is a vital step towards our target of 1,000 metric tons of annual capacity and beyond. Momentum Global Ventures shares our vision and building a reliable, high-quality source of these critical materials for a resilient supply chain serving producers across North America and Europe.”
The additional investment underscores MGV’s commitment to expanding domestic manufacturing capacity as demand for critical rare-earth materials collects pace.
“The global requirements of these critical materials, and demand is full-enormous,” said Pieter Six, Asset Director at Momentum Global Ventures and CCI board member.
“Investing again shows our long-term commitment to CCI and to a steady domestic supply chain”.
The expansion positions CCI to play a larger role in the development of a more resilient North American and European rare-earth supply chain, focusing a key processing bottleneck among raw rare-earth materials and finished magnets.
