MP Materials, North America's Only Rare Earths Producer, Awarded Contract From DoD To Accelerate U.S. Production Of Critical Materials To Support National Defense

DoD grant aims to support U.S. industry and reduce supply chain vulnerabilities

MOUNTAIN PASS, Calif., April 22, 2020 /PRNewswire/ -- MP Materials, owner and operator of Mountain Pass, the only rare earth mining and processing site in North America, was chosen by the U.S. Department of Defense for a contract aimed at restoring domestic Heavy Rare Earths production to the United States. MP Materials is the only firm capable of providing a fully U.S.-based solution.

The contract serves as Phase 1 of a DoD effort to reduce U.S. supply chain vulnerabilities by ultimately enabling commercial scale production and operation of a U.S.-based Heavy Rare Earth separation facility.

"We appreciate the DoD's leadership in addressing U.S. supply chain vulnerabilities. That is MP's core mission, and we look forward to continued partnership with DoD in tackling this critical challenge," said MP Materials Co-Chairman, James Litinsky. "We are committed to restoring the full rare earth supply chain to the United States, paving the way for the onshoring of robust and diverse industries that will thrive through global competition, world-class products and sustainable environmental standards."

MP Materials is the only rare earths producer with the ability to source and process these critical components, including Heavy Rare Earths, in the U.S. Currently, these elements, which are required for security and defense systems, are sourced and processed largely in China. The DoD's Phase 1 funding will support detailed planning and design of a U.S.-based Heavy Rare Earth separation facility, a critical component for expansion of the U.S. rare earth and magnetics industry.

Upon completion of Phase 1, the DoD may award further contracts in support of commercial scale production based on Phase 1 results.

About MP MaterialsMP Materials is the owner and operator of the Mountain Pass Rare Earth Mining and Processing facility, the only integrated site of its kind in the Western Hemisphere. With over 200 employees, MP Materials produces approximately 15% of global rare earth content, essential for the development of technologies such as defense systems, smartphones, drones, and electric vehicles. It operates a green mining and processing facility, and is currently one of the lowest-cost producers of rare earth concentrate. MP plays a leadership role in advocating for a more robust and competitive rare earths industry in the U.S. More information is available at https://mpmaterials.com/.

https://www.prnewswire.com/news-releases/mp-materials-north-americas-only-rare-earths-producer-awarded-contract-from-dod-to-accelerate-us-production-of-critical-materials-to-support-national-defense-301045761.html