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MP Materials Corp MP

Financial Services Metals & Mining Industrial Metals & Minerals
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) located in California. It is also developing a rare earth metal, alloy and magnet manufacturing facility in Fort Worth, Texas (Independence Facility). The Company’s segments include Materials and Magnetics. The Materials segment operates Mountain Pass, which produces refined rare earth products as well as rare earth concentrate and related products. The Materials segment primarily generates revenue from sales of rare earth concentrate, primarily sold for further distribution to a single, principal customer in China, and sales of neodymium-praseodymium (NdPr) oxide and metal, primarily sold to customers in Japan, South Korea, and broader Asia. The Magnetics segment operates the Independence Facility, where it produces magnetic precursor products.


NYSE:MP - Post by User

MP Materials Corp
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  • Betteryear2X
Post by Betteryear2on Apr 02, 2024 2:24am
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Post# 35964297

MP Materials Awarded $58.5 Million

MP Materials Awarded $58.5 Million

LAS VEGAS--()--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


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