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MP Materials Corp MP

MP Materials Corp. produces specialty materials that are vital inputs for electrification and other advanced technologies. The Company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility (Mountain Pass) in North America, and is constructing a rare earth metal, alloy and magnet manufacturing facility in Fort Worth, Texas (the Fort Worth Facility). The Company produces rare earth concentrate products as well as refined rare earth oxides and related products. It is producing separated rare earth products, including neodymium-praseodymium (NdPr) oxide. The Company has a distributorship agreement with Sumitomo Corporation of Americas (Sumitomo), under which Sumitomo serves as the exclusive distributor of the NdPr oxide and NdPr metal produced by the Company to Japanese customers.

NYSE:MP - Post by User

MP Materials Corp

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Post by Betteryear2on Apr 02, 2024 2:24am

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Post# 35964297

MP Materials Awarded $58.5 Million

April 01, 2024 09:05 AM Eastern Daylight Time

LAS VEGAS--(BUSINESS WIRE)--MP Materials (NYSE: MP) has received a $58.5 million award to advance its construction of America’s first fully-integrated rare earth magnet manufacturing facility. The Section 48C Advanced Energy Project tax credit allocation was issued by the IRS and Treasury following a competitive, oversubscribed process administered by the Department of Energy that evaluated the technical and commercial viability and environmental and community impact of approximately 250 projects.

MP Materials Awarded $58.5 Million to Advance U.S. Rare Earth Magnet Manufacturing | Business Wire