MP Materials Corp. operates the Mountain Pass Rare Earth Mine and processing facility in California, one of the world’s largest sources of rare earth elements. The company’s core activities span mining, beneficiation, and separation of rare earth minerals, with a focus on neodymium and praseodymium oxides, which are critical components in permanent magnets used in electric vehicles, wind turbines, consumer electronics, and defense applications. MP Materials has invested in restoring domestic processing capabilities, aiming to establish a fully integrated, U.S.-based rare earth supply chain.
Following the bankruptcy of its predecessor, Molycorp, in 2015, MP Materials was formed in 2017 through a partnership led by Prosperity Capital Partners. Since its initial public offering on the New York Stock Exchange in July 2020 under the ticker “MP,” the company has expanded its processing capacity and entered into strategic offtake agreements with major manufacturers. MP Materials has commissioned a separation facility in Southern California, marking a significant step toward moving rare earth oxide processing from overseas back to North America.
MP Materials serves a global customer base, supplying essential materials to companies in the automotive, renewable energy, defense, and electronics sectors. By leveraging the high-purity rare earth oxides extracted at Mountain Pass, the company supports the transition to a low-carbon economy and bolsters domestic manufacturing resilience. Its operations are subject to stringent environmental and regulatory standards, reflecting MP Materials’ commitment to sustainable mining practices.
Under the leadership of Chairman and Co-Chief Executive Officer James Litinsky, MP Materials continues to pursue expansion projects aimed at increasing output and developing downstream magnet production capabilities. The management team, comprised of industry veterans in mining, processing, and financial structuring, is focused on scaling operations, advancing technological innovation, and fostering partnerships that reinforce the United States’ position in the global rare earths market.
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