Mp Materials Corp (N:MP)
Business Focus: Rare Earth Minerals
| Sector: Basic Materials | Industry: Precious Metals & Minerals |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1700 S. Pavilion Center Dr., Suite 800 LAS VEGAS NV 89135 |
| Tel: | N/A |
| Website: | https://mpmaterials.com |
| IR: | See website |
| Key People | ||
| James H. Litinsky Chairman of the Board, Chief Executive Officer, Founder | Ryan Corbett Chief Financial Officer | Michael Rosenthal Chief Operating Officer | Elliot D. Hoops General Counsel, Secretary |
| Business Overview |
| 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. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Mp Materials Corp revenues decreased 52% to $253.4M. Net income decreased 92% to $24.3M. Revenues reflect Other rare earth products (including rel decrease of 97% to $282K. Net income also reflects General and administrative - Balancing v increase of 21% to $52.7M (expense), G/L on Sale of Tangible & I increase from $391K to $6.3M (expense), Capitalized interest decrease of 9% to $326K (income). |
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