MP Materials
MP Materials[edit]
Background[edit]
MP Materials owns and operates Mountain Pass, California, the only rare earth mining and processing site in North America. Rare earths power the modern economy. They are essential components in a wide range of industrial, clean energy and information technology applications
History[edit]
Mountain Pass' bastnaesite ore is one of the world's highest quality rare earth deposits. The mine started production in 1952, and from the 1960's through the mid-1980's, it was the dominant source of rare earth minerals in the world. More recently, Chinese rare earth production has grown to account for 85% of the global supply, and rare earth mining and processing stopped in the United States[1]
Ownership[edit]
Affiliates of two U.S. investment fund advisors, JHL Capital Group LLC and QVT Financial LP, acquired Mountain Pass in July 2017 with the goal of reviving America's rare earth industry. JHL owns 65%, QVT owns 25% and Leshan Shenghe Rare Earth Co. LTD., a rare earth company in China, holds a 9.9% non-voting interest in the company. JHL and QVT, the two U.S. investment fund advisors, control 100% of the company's voting rights and board seats.[2]
Restoration[edit]
MP Materials is re-emerging as a best-in-class, globally competitive rare earths producer. The company employs approximately 175 people and is actively growing[3]. MP Materials began production of rare earth concentrate in January of 2018 and is establishing itself as a reliable and trusted partner in America's next generation manufacturing supply chain. The company is repurposing existing equipment and making additional investments with the goal of producing separated rare earths by 2020.
References[edit]
- ↑ Isaak, Adam (2018-10-19). "Neodymium is in headphones, cellphones and electric cars — and China controls the world's supply". CNBC. Retrieved 2018-11-01.
- ↑ Ritchie, Martin (2018-09-26). "The Californian Rare Earths Mine Caught Between Trump and China". Bloomberg. Retrieved 2018-09-26.
- ↑ "MP Materials".
mp materials submission[edit]
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