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Las Vegas, NV, USA · Public (NYSE: MP) · mpmaterials.com
Mountain Pass rare earth mine and magnet plants; $110/kg NdPr price floor
Federal support (equity, loans, commitments)
$400M preferred + $150M loan (Defense); ~15% stake
as of Jul 10, 2025 · theoagseo.com
Open roles
—
no public job board
Federal awards
$29M
5 grants, contracts, loans
Last private raise
—
no Form D on file
Revenue
$224M
fiscal year ending 2025-12-31
Coming up
POLICY45X: advanced manufacturing
Wind components end after 2027. Solar and battery components: 75% in 2030, 50% in 2031, 25% in 2032, none from 2033. Critical minerals: 75% in 2031, 50% in 2032, 25% in 2033, none from 2034. Affects Critical Minerals & Materials.
+ THESISPOLICYFederal equity stakes in critical-minerals companies
Defense, Commerce and DOE have taken equity, warrants or loans in MP Materials, Lithium Americas, Vulcan Elements, USA Rare Earth and others; see the Minerals tab for the full list. Affects Critical Minerals & Materials, MP Materials.
+ THESISOTHERMP Materials reports Q2 2026 results; NdPr output up 41%
NdPr production reached 840 metric tons, up 41% year over year, and NdPr sales were 1,006 metric tons, up 127%. Consolidated revenue and PPA income totaled $126.1 million, including $17.6 million of PPA Income.
sec.gov →+ THESISCONTRACTMP Materials signs long-term gadolinium offtake with US aerospace and defense customer
The company signed a significant long-term offtake agreement with a new American aerospace and defense customer for separated gadolinium. This is a commercial contract, not new federal funding.
sec.gov →+ THESISPOLICYForeign-entity (FEOC) supply-chain rules for tax credits
Notice 2026-15 explains how to calculate the material-assistance cost ratio and gives interim safe harbors for 45Y, 48E and 45X. Proposed regulations and safe-harbor tables are still to come. Affects Critical Minerals & Materials.
+ THESISPOLICYSection 232: processed critical minerals
Investigation concluded without tariffs; the President directed negotiations with trading partners and left other tools open. Affects Critical Minerals & Materials.
+ THESISFEDERAL AWARDDefense Logistics Agency contract$11M
Neodymium oxide (nd2o3) and praseodymium oxide (pr6o11)
usaspending.gov →+ THESISFEDERAL AWARDDefense Logistics Agency contract$2.4M
8509870941!lanthanum storage & rotation
usaspending.gov →+ THESISFEDERAL AWARDDepartment of the Air Force grant$9.6M
Defense production act (dpa) title iii rare earth elements separation and processing
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy contract$3.1M
Production of mixed rare earth oxides (reos) from coal-based resources
usaspending.gov →+ THESISFEDERAL AWARDSmall Business Administration loan$3.4M
To aid small businesses in maintaining work force during covid-19 pandemic.
usaspending.gov →+ THESISRead from SEC 8-Ks (bankruptcy, default, delisting, restatement, impairment, restructuring), cash runway in annual reports, Form D raises and the 30-day hiring trend. A prompt to look closer, not a credit rating.
No public job board on Greenhouse, Lever or Ashby, so hiring isn't tracked for this company yet.
| Fiscal year end | 2021-12 | 2022-12 | 2023-12 | 2024-12 | 2025-12 |
|---|---|---|---|---|---|
| Revenue | $332M | $528M | $253M | $204M | $224M |
| Net income | $135M | $289M | $24M | −$65M | −$86M |
| Cash | $1.2B |
Sources: company job boards (daily), SEC EDGAR, USAspending.gov, and the reviewed technology spreadsheets. Public records only cover US entities, so foreign companies and private firms that don't file will show gaps.
| $137M |
| $263M |
| $282M |
| $1.2B |
Matched recipient: MP MINE OPERATIONS LLC
STEP 2/3 · SECURE Price floor removes downsideProducers can finance new capacity without fearing a Chinese price cut.
Policy that applies
2026-08-06 · other
MP Materials reports Q2 2026 results; NdPr output up 41%NdPr production reached 840 metric tons, up 41% year over year, and NdPr sales were 1,006 metric tons, up 127%. Consolidated revenue and PPA income totaled $126.1 million, including $17.6 million of PPA Income.2026-08-06 · contract
MP Materials signs long-term gadolinium offtake with US aerospace and defense customerThe company signed a significant long-term offtake agreement with a new American aerospace and defense customer for separated gadolinium. This is a commercial contract, not new federal funding.