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https://mpmaterials.com/


https://en.wikipedia.org/wiki/Molycorp
https://en.wikipedia.org/wiki/Mountain_Pass_mine

Molycorp Inc. was an American mining corporation headquartered in Greenwood Village, Colorado. The corporation, which was formerly traded on the New York Stock Exchange owned the Mountain Pass rare earth mine in California. It filed for bankruptcy in June 2015 after changing competitive circumstances, declining prices on output and a 2014 restructuring. It was purchased by its largest creditor Oaktree Capital Management and was reorganized as Neo Performance Materials.

The Mountain Pass Mine is an open-pit mine of rare-earth elements on the south flank of the Clark Mountain Range, just north of the unincorporated community of Mountain Pass, California, United States. The mine once supplied most of the world's rare-earth elements. Owned by MP Materials, it is the only rare earth mining and processing facility in the United States.

 

 
The Mountain Pass mine dominated worldwide REE production from the 1960s to the 1980s (USGS).







https://www.fortressvalueac.com/about


 

Fortress Value Acquisition Corp. and MP Materials Announce Effectiveness of Registration Statement for Proposed Business Combination

Special Stockholder Meeting Scheduled for Friday, November 13th, 2020

October 27, 2020 11:02 AM Eastern Daylight Time
 

NEW YORK--(BUSINESS WIRE)--Fortress Value Acquisition Corp. (“FVAC”) (NYSE: FVAC), a special purpose acquisition company sponsored by an affiliate of Fortress Investment Group LLC (“Fortress”), today announced that the U.S. Securities and Exchange Commission (“SEC”) has declared effective the registration statement on Form S-4 (File No. 333-248433) (as amended to the date hereof, the ”Registration Statement”), which includes a proxy statement/consent solicitation/prospectus in connection with its special meeting of stockholders to consider the previously announced business combination (the “Business Combination”) with MP Materials (“MP Materials”). MP Materials is the owner and operator of Mountain Pass, the only rare earth mining and processing site of scale in North America. FVAC has commenced mailing the definitive proxy statement/consent solicitation/prospectus relating to the special meeting, which will be held on Friday, November 13, 2020. The proxy statement/consent solicitation/prospectus is being mailed to FVAC’s stockholders of record as of the close of business on October 12, 2020 (the “Record Date”). Should the Business Combination be approved by stockholders, FVAC and MP Materials anticipate closing the Business Combination the week of November 16, 2020, subject to satisfaction or waiver of customary closing conditions.



About MP Materials

MP 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 270 employees, MP Materials produces approximately 15% of global rare earth materials, 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/.



 
Leveling the Playing Field

Today, China dominates the rare earth industry, producing over 80% of global supply. Having a single country as a potential point-of-failure in the industrial supply chain for trillions of dollars in GDP is untenable, and MP Materials provides a straightforward solution. Mountain Pass is blessed with one of the world’s highest quality deposits of rare earths, which allows MP Materials to be a global low-cost producer while adhering to our rigorous environmental standards and fulfilling our commitments to employees and our community.


 

MP Materials


 

MP Materials Announces Financial Results for the Third Quarter and Year-To-Date Ended September 30, 2020
 

Q3 Financial and Operating Highlights:

• Third quarter revenue increased 52% year-over-year, to $41.0 million, driven primarily by higher realized pricing and inclusive of an $8.9 million tariff refund received
• Adjusted EBITDA for the third quarter of 2020 increased 159% year-over-year to $11.6 million; the Adjusted EBITDA calculation excludes the $8.9 million benefit from the tariff refund
• In the third quarter, MP produced 10,197 metric tons of contained rare earth oxide ("REO") in concentrate, higher both year-over-year and sequentially; production cost of $1,389 per metric ton of REO was down modestly on a sequential basis
• MP sold 9,429 metric tons of REO in the quarter at an average realized price of $3,393 per metric ton; higher realized pricing was driven by higher market prices and the lifting of certain import duties; sold volumes fluctuate quarter to quarter based on production and shipment timing and MP continues to foresee 100% sell through of its production
 

Recent Business Highlights:

• Completed its Business Combination with Fortress Value Acquisition Corp. on November 17, 2020, resulting in the listing of MP Materials shares on the New York Stock Exchange under the symbol "MP"
• Through the business combination and related PIPE transaction, MP Materials raised $545 million to fully fund its three-stage business plan to restore the full rare earth materials supply chain to the U.S., closing a critical defense and economic security gap
• On November 17, 2020, the Department of Defense ("DoD") announced that MP Materials was awarded a Defense Production Act Title III technology investment agreement, which includes a $9.6 million DoD contribution to MP’s Stage II optimization
• Completed front-end engineering design (FEED) and all circuit designs for Stage II optimization




"Our results show continued strong operational execution throughout 2020," said James Litinsky, Chairman and Chief Executive Officer of MP Materials. "With our business combination complete, MP has a fully equitized balance sheet to support the execution of our long-term plans to become a key supply chain partner as global industry advances towards electrification," added Litinsky. "Our next several quarters will be focused on our move downstream into production of higher-margin separated rare earths with a focus on NdPr. We expect to continue driving profitable growth as we produce our rare earth concentrate, which comprises 15% of global rare earth content today."




Conference Call Details:

Event: MP Materials September 30, 2020, Financial Results Conference Call and Webcast Date: Tuesday, November 24, 2020 Time: 8:30 a.m. Eastern Time Live call: (833) 350-1335 International: (236) 389-2432 Audio Replay: (800) 585-8367 Passcode: 5090136 Webcast: investors.mpmaterials.com

The audio replay will be archived through December 8, 2020.




Pentagon awards $13 million in rare earths funding to U.S. projects

November 18, 2020

By Ernest Scheyder
 

(Reuters) - The U.S. Department of Defense has awarded three rare earth-related grants worth roughly $13 million to help boost domestic production of the specialized minerals used to make weapons, electronics and a range of other goods.

China is the world's largest producer of these minerals and has threatened to stop their export to the United States.

The Pentagon on Tuesday said it awarded $9.6 million to MP Materials Inc <MP.N>, which owns the only U.S. rare earths mine, to help the company process light rare earths.

Rare earths are 17 metals that are difficult and costly to mine and process cleanly. Most are so-called light rare earths, used in cellphones and other consumer goods. MP's California mine has a large supply of light rare earths.

But MP has to ship more than 50,000 tonnes of concentrated rare earths per year to China for final processing because equipment it inherited from its predecessor, Molycorp, is not operational. Chinese customers account for all of MP's $100 million in annual revenue.

MP Materials went public on Wednesday on the New York Stock Exchange, a deal that netted the company about $489 million. Shares rose 14% to $16.40.

This is the second Pentagon award that MP has received this year. The company and Australia's Lynas Corp Ltd <LYC.AX> received grants in April to focus on production of so-called heavy rare earths, a less-common type of the minerals used in weaponry.

The Pentagon also said on Tuesday it awarded $2.3 million to California-based TDA Magnetics Inc and $860,000 to Texas-based Urban Mining to focus on rare earth magnet production and stockpiling. The Pentagon earlier this year had granted $28.8 million to Urban Mining for similar magnet work.

Rare earths must be turned into magnets after processing, otherwise they are of little value to manufacturers. China dominates the rare earth magnet industry, too.


(Reporting by Ernest Scheyder; editing by Jonathan Oatis)




 

Contact:

Corporate Headquarters
6720 Via Austi Parkway Suite 450
Las Vegas, Nevada 89119
 
702.844.6111          info@mpmaterials.com
 
 



 
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MP News: Statement of Changes in Beneficial Ownership (4) 01/05/2021 04:09:45 PM
MP News: Sec Staff Action/letter (sec Staff) 01/04/2021 11:17:02 AM
MP News: Sec Staff Action/letter (sec Staff) 01/04/2021 10:31:59 AM
MP News: Statement of Changes in Beneficial Ownership (4) 12/23/2020 04:47:32 PM
MP News: Statement of Changes in Beneficial Ownership (4) 12/23/2020 04:38:21 PM
PostSubject
#90   Deadnsyde! Porterhouse10 01/12/21 05:39:54 PM
#89   hahahaha.... let's hit 40 first. twister1 01/12/21 02:52:48 PM
#88   hahahaha.... hammertime twister1 01/12/21 02:50:36 PM
#87   Magnets are highly needed and more needed in Eagleize 01/12/21 02:00:29 PM
#86   WOW!, so lucky..now up $5 since yesterday, climbing.. MP$... Pisd 01/12/21 11:04:53 AM
#85   Back in Molycorp $28.40.. MP$... Pisd 01/11/21 10:02:25 AM
#84   one day they are going to be digging twister1 01/08/21 01:00:25 PM
#83   Yep Porterhouse10 01/05/21 09:42:59 AM
#82   Got Fortress run..missed $30-$40..now great pullback opportunity..$28ish MP$... Pisd 01/05/21 09:27:27 AM
#81   Hitting off that $30 mark pretty hard! Porterhouse10 12/30/20 10:40:56 AM
#80   It needed it Porterhouse10 12/30/20 08:14:38 AM
#79   Iv been waiting for a day like this! fursurething 12/30/20 12:27:12 AM
#78   Stocks go way up like $MP, and they Porterhouse10 12/29/20 06:45:28 PM
#77   Personally with where the need of Battery Power pire 12/29/20 09:58:29 AM
#76   down like 20% in 2 trading days? stocks4poppop 12/29/20 09:32:08 AM
#75   I have MP, I just found out arec Norton1973 12/29/20 07:22:55 AM
#74   Options are up 500%. With that said RodgeDodger 12/28/20 07:29:59 PM
#73   Anyone know anything about medallion? KILLAZILLA 12/28/20 12:45:20 PM
#72   Added some more on the dip today. fursurething 12/24/20 08:10:56 PM
#71   Have a 26.26 avg, will average in higher, Porterhouse10 12/23/20 01:50:23 PM
#70   Not me! I'm hoping for a higher push. pire 12/23/20 01:25:44 PM
#69   Hoping for a nice pullback Porterhouse10 12/23/20 11:57:35 AM
#68   Hello $40 oh how I’ve been patiently waiting....$$$$$ Jess070283 12/22/20 09:46:22 AM
#67   Boom! Porterhouse10 12/22/20 07:55:27 AM
#66   Boom! Porterhouse10 12/21/20 09:56:20 AM
#65   Only going higher, imo, longer hold but great play Porterhouse10 12/18/20 08:04:41 AM
#64   a 94% increase since November... Zilidium 12/17/20 01:16:52 PM
#63   Strong like Bull! Porterhouse10 12/17/20 12:28:17 PM
#62   Totally agree. Just don't understand why sellers are pire 12/17/20 09:43:27 AM
#61   $40+ soon.... Jess070283 12/17/20 09:32:16 AM
#60   Boom! Porterhouse10 12/11/20 12:18:19 PM
#59   KILLAZILLA, wow! Nice find. As a bigdil69 12/11/20 06:37:53 AM
#58   https://www.newsfilecorp.com/release/69867/Ucore-Reports-US-National-Defense-Aut KILLAZILLA 12/11/20 06:06:58 AM
#57   Headed there now pre market Porterhouse10 12/08/20 08:19:24 AM
#56   High Grade Graphite move $STHC happening this week. CopperScout 12/07/20 01:12:59 PM
#55   How does LYSCF fit into the picture? TIA xe2dy 12/07/20 10:41:33 AM
#54   Rocking and rolling this AM, up $4.25 per share Pennystomper55 12/07/20 10:35:41 AM
#53   https://www.cato.org/blog/some-perspective-chinese-control-rare-earth-minerals KILLAZILLA 12/05/20 10:13:40 PM
#52   I'm sure most of you know the prices KILLAZILLA 12/05/20 09:34:28 PM
#51   When phase two and three come online this Pennystomper55 12/04/20 01:47:11 PM
#50   This will be long sell $$maker. Buy now. Keithy666 12/04/20 11:11:46 AM
#49   Hey good buddy!! Lets get this crew of kmack49 12/01/20 12:41:29 PM
#48   My Pleasure PutzMueler 11/30/20 08:39:48 PM
#47   thanks for the share... twister1 11/30/20 05:38:04 PM
#46   Couple 13 filings Fri pm, lot of insiders here... Pisd 11/30/20 09:00:53 AM
#45   Thanks..lot to learn..check it out when get a chance... Pisd 11/28/20 11:42:42 AM
#44   I also Like to connect the Dots with PutzMueler 11/28/20 11:38:24 AM
#43   Former CEO of what? Mountain Pass? yah, you PutzMueler 11/26/20 09:56:15 PM
#42   ..maybe a twin with the same name idk? MP$... Pisd 11/25/20 08:21:41 PM
#41   Appreciate the compliment, gl ... Pisd 11/25/20 08:19:13 PM
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