Article

MP Materials Corporation, the sole major U.S. rare-earth producer, operates the Mountain Pass mine and is expanding into magnet production in Texas. With partnerships with GM, Apple, and the U.S. Department of Defense, MP is positioned to meet surging neodymium demand for electric vehicles and defense systems.

In 2024, production hit 45,000 tonnes of rare-earth oxide concentrate. The company faces execution and valuation risks as it scales operations and navigates volatile pricing.