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+6.61%
Close of 9 Nov 2026, in USD
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About MP Materials
From its filings with the US Securities and Exchange Commission
MP Materials is based in Las Vegas, Nevada and is incorporated in Delaware. Its shares trade on NYSE under the ticker MP. The SEC classifies its business as metal mining. In the fiscal year to 31 December 2025, it reported revenue of $224.4m and a net loss of $85.9m. At that date it held total assets of $3.86bn and shareholders' equity of $1.98bn.
MP Materials Corp., including its subsidiaries (the “Company,” “MP Materials,” “we,” “our,” and “us”), is the largest producer of rare earth materials in the Western Hemisphere. Headquartered in Las Vegas, Nevada, the Company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility (“Mountain Pass”) located near Mountain Pass, San Bernardino County, California, the only rare earth mining and processing site of scale in North America. Additionally, the Company owns and operates a rare earth metal, alloy and magnet manufacturing facility in Fort Worth, Texas (“Independence” or the “Independence Facility”), where the Company produces and sells magnetic precursor products and commenced the manufacturing of neodymium-iron-boron (“NdFeB”) permanent magnets in December 2025. The Company’s operations are organized into two reportable segments: Materials and Magnetics.
The Materials segment represents the upstream and midstream operations of the Company, which primarily consist of Mountain Pass, a fully integrated mining and refining facility producing refined rare earth oxides and related products. The Materials segment generates revenue primarily from sales of neodymium-praseodymium (“NdPr”) oxide and metal, primarily sold to customers in Japan, South Korea, and broader Asia. The Materials segment historically generated the majority of its revenue from sales of rare earth concentrate primarily to a distributor that, in turn, typically sold that product to refiners in China.
Quoted from its 10-K, filed 26 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Materials
- Industry
- Metals & Mining
- Listed since
- 30 Apr 2020
- Employees
- 1,500
- Website
- mpmaterials.com ↗
- Head office
- 1700 S. PAVILION CENTER DR., LAS VEGAS, NV, 89135
- Incorporated in
- DE
- Classification
- Metal Mining
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. James LitinskyChairman of the Board, Chief Executive Officer, Founder$6.0m
- Mr. Ryan CorbettChief Financial Officer$3.5m
- Mr. Michael RosenthalChief Operating Officer$3.8m
- Mr. Elliot HoopsGeneral Counsel, Secretary$2.7m
- Mr. Arnold DonaldIndependent Director$240,000
- Ms. Connie DuckworthIndependent Director$255,000
- Ms. Maryanne LavanIndependent Director$247,500
- Mr. Andrew McknightIndependent Director$245,000
- Gen. (Retd.) Richard MyersIndependent Director$240,000
- Mr. Randall WeisenburgerIndependent Director$312,500
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 54
- Environment
- 59
- Social
- 52
- Governance
- 50
- Direct emissions (scope 1)
- 73,627 t
- Energy emissions (scope 2)
- 1,080 t
- Women in the workforce
- 17%
- Carbon reduction policy
- Yes
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Vertical Integration: MP Materials Corp benefits from being vertically integrated, controlling the entire rare earth supply chain, from mining to processing and distribution. This allows the company to have greater control over quality and costs.
- Leading Market Position: MP Materials Corp is one of the largest producers of rare earth materials outside of China, giving the company a strong market position and the ability to influence prices.
- Strategic Assets: The company owns the Mountain Pass mine in California, which is one of the most significant and developed rare earth deposits in the world. This provides MP Materials with a valuable and sustainable resource base.
Weaknesses
- Dependency on Chinese Demand: MP Materials Corp heavily relies on demand from China, which accounts for a significant portion of the global rare earth market. This dependency exposes the company to market fluctuations and potential geopolitical risks.
- Long Capital Payback Period: Developing and operating rare earth mines require substantial upfront capital investments. MP Materials Corp may face challenges in managing cash flows during the initial phase of mine development and production ramp-up.
Opportunities
- Growing Demand for Electric Vehicles: The increasing adoption of electric vehicles worldwide presents a significant opportunity for MP Materials Corp, as rare earth elements are essential in the manufacturing of electric vehicle components such as batteries, magnets, and motors.
- Renewable Energy Development: The global shift towards renewable energy sources, such as wind turbines and solar panels, requires rare earth materials for their production. MP Materials can benefit from this trend by supplying the necessary raw materials.
- Diversification of Supply Chain: As governments and companies seek to reduce dependence on China for rare earths, MP Materials Corp can strategically position itself as a reliable alternative supplier, attracting customers who prioritize a diversified supply chain.
Threats
- Intense Competitiveness: The rare earth market is highly competitive, with several players vying for market share. MP Materials Corp may face challenges in maintaining its competitive edge, especially if new entrants or existing competitors increase production capacities.
- Environmental Regulations: Rare earth mining and processing operations face strict environmental regulations due to the potential ecological impact. Non-compliance or stricter regulations could increase costs and hinder business operations.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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