MP Materials Corp. MP

MP Materials Corp. is an American rare-earth materials company headquartered in Las Vegas, Nevada. The firm is engaged in the ownership and operation of integrated rare earth mining and processing facilities, including holding the rights to the Mountain Pass mine, which is the only rare earth mining and processing site in North America. The firm also holds various intellectual property rights which are related to rare earth minerals, and their processing and development. The company was founded in 2017.

The firm is engaged in the production of minerals such as neodymium and praseodymium, rare earth elements which can be combined to form neodymium-praseodymium, known as NdPr. There is rapid demand growth for NdPr worldwide due to a move towards electrification, as it is used in electric vehicles and is vital to the continued growth of the automotive, aerospace, wind-power, and IT industries.

In 2020, MP Materials produced more than 38,500mt of rare earths in concentrate, from the Mountain Pass mine, representing more than 15% of global consumption and the largest amount extracted in the 60-year history of the mine. The firm is listed on the NYSE under the ticker MP.

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