MP Materials Corp. MP

Company Overview

MP Materials Corp. is a U.S.-based rare earth materials company focused on the mining, processing, and downstream manufacturing of rare earth products used in permanent magnets and advanced technologies. The company operates primarily in the rare earth supply chain, serving industries including electric vehicles, renewable energy, robotics, aerospace, defense, consumer electronics, and industrial automation. Its core asset is the Mountain Pass rare earth mine and processing facility in California, one of the largest known rare earth deposits in the Western Hemisphere. Revenue has historically been driven by the production and sale of rare earth concentrate, particularly neodymium-praseodymium (NdPr), which is a critical input for high-strength permanent magnets.

MP Materials positions itself as a vertically integrated rare earth platform intended to rebuild a domestic U.S. rare earth supply chain. The company has expanded beyond mining into separation, refining, alloy production, and magnet manufacturing initiatives. The business traces its roots to the original Mountain Pass operation developed in the mid-20th century. Following bankruptcy proceedings involving prior owners, the assets were acquired in 2017 by a consortium that later formed MP Materials. The company became publicly traded in 2020 through a merger with a special purpose acquisition company.