| Abstract Scope |
In recent years, MP Materials successfully restarted, restored, and enhanced operations at the Mountain Pass Mine in Mountain Pass, California. The company produced more than 50,000 tonnes of rare earths and over 2,500 tonnes of neodymium-praseodymium (Nd-Pr) oxide, a crucial precursor for neodymium-iron-boron (NdFeB) magnets, in 2025. As a part of its downstream expansion, the company has constructed Independence, its flagship magnet manufacturing plan, and has broken ground on its 10X facility, a magnetics facility with 7,000 tonnes per annum production capacity. In the past year, the Independence facility has continued production of Nd-Pr metal and has successfully produced its first magnets from commercial magnet production lines. These milestones represent significant progress towards reestablishing a fully integrated domestic supply chain for critical components, a feat not achieved in the United States for decades. This presentation will detail our advancements towards this objective. |