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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: MP Materials tops Q1 estimates as rare earths production, prices rise 05/06/2021 06:26:18 PM
MP News: Current Report Filing (8-k) 05/06/2021 04:24:21 PM
MP News: MP Materials EPS beats by $0.02, beats on revenue 05/06/2021 04:12:47 PM
MP News: MP Materials Q1 2021 Earnings Preview 05/05/2021 05:35:56 PM
MP News: Current Report Filing (8-k) 05/04/2021 08:41:21 AM
PostSubject
#178   Thanks SpotOnTrade I did not know that Mp ImTC 05/11/21 04:20:10 PM
#177   $MP Cramer's lightning round: MP Materials is vital https://cnb.cx/2ReB1NO SpotOnTrade 05/11/21 11:45:17 AM
#176   05/06/2021 MP Materials First Quarter 2021 Results Presentation ImTC 05/09/21 01:08:29 PM
#175   Yes it is. I’ve been reading the comments handsdo 05/02/21 05:22:38 PM
#174   Good article, Pennystomper55 04/22/21 05:08:46 PM
#173   Anyone notice the amount of Mr Litinsky sold. handsdo 04/19/21 10:20:25 AM
#172   Interesting commentary from article needs and needs handsdo 04/19/21 09:58:12 AM
#171   We are trading in line with QS, and BeingReal 04/16/21 01:25:50 PM
#170   Even with free grant money there is no ironyman 04/15/21 11:31:21 AM
#169   Still waiting for that shot !!! idccwin 04/12/21 06:36:45 PM
#168   We need a shot of good news to idccwin 04/06/21 12:31:08 AM
#167   Easy trade..hold/accumulate MP$.. sell half @ $50 imo... Pisd 04/05/21 10:55:34 AM
#166   This is great information........MP will soar in the idccwin 04/03/21 03:15:39 PM
#165   This link from another board - https://investorshub.advfn.com/boards/read_msg.as handsdo 04/03/21 10:43:01 AM
#164   Wow!! Buying $NIOBF is like buying MP 2-3 kmack49 04/01/21 06:40:18 PM
#163   Waiting for the bounce!! It will bounce and idccwin 03/30/21 10:34:14 PM
#162   Great info thx. mdb1 03/24/21 06:16:45 PM
#161   Brian Kelly on fast money ( CNBC) just idccwin 03/24/21 06:11:18 PM
#160   It's up $.90 in AH : maybe the mdb1 03/24/21 06:03:19 PM
#159   Sure looks like it's headed for $28s or mdb1 03/24/21 03:13:51 PM
#158   I agree. Potential for $70s. But that mdb1 03/24/21 01:59:10 PM
#157   A much larger sell off than I ever idccwin 03/24/21 01:20:32 PM
#156   what a selloff: average vol hit already at mdb1 03/24/21 10:13:50 AM
#155   If you want to legally avoid capital gains jimbo8 03/24/21 09:46:47 AM
#154   Guess I was wrong, sorry. found out last jimbo8 03/24/21 09:41:17 AM
#153   I’m glad to hear that. Our set back idccwin 03/23/21 10:29:58 PM
#152   i want it to go way up - mdb1 03/23/21 09:06:14 PM
#151   Are you short or a flipper? idccwin 03/23/21 07:25:47 PM
#150   The way in After hours: Could be down mdb1 03/23/21 06:13:55 PM
#149   4x more than average volume:today was: SELL, SELL, mdb1 03/23/21 05:08:42 PM
#148   Is it going back to $15? It's mdb1 03/23/21 03:01:52 PM
#147   I agree, just a normal move for a idccwin 03/23/21 01:09:35 PM
#146   Reminds me of an OTC type move. ironyman 03/23/21 12:30:13 PM
#145   Not only that, there is supposedly no dilution! jimbo8 03/23/21 11:11:11 AM
#144   Could go back to $31. Great Quarter, the mdb1 03/23/21 11:06:16 AM
#143   This is a great buying opportunity. Company is idccwin 03/23/21 10:46:38 AM
#142   Wow, everyone just got shafted ironyman 03/23/21 10:09:39 AM
#141   $500 Million Green Convertible Senior Notes Offering. Zilidium 03/23/21 10:06:30 AM
#140   Presentation - https://investors.mpmaterials.com/events-and-presentations/defaul handsdo 03/19/21 10:32:54 AM
#139   We got the great report, now we just idccwin 03/19/21 12:17:01 AM
#138   With just decent earnings today we will never idccwin 03/18/21 01:58:59 PM
#137   Rare earth mining is heating up the competition. Smashchart 03/15/21 10:35:40 AM
#136   I agree!! The hot topic is USA rare kmack49 03/14/21 12:33:17 PM
#135   $MP Cowen Mobility Disruption Conference 2021-03-11 handsdo 03/11/21 07:40:17 PM
#134   Did anyone listen to the $MP Baird Vehicle handsdo 03/10/21 03:04:14 PM
#133   I can see $100.00 in about 1 yr. idccwin 03/10/21 01:53:46 PM
#132   Cowen and Co. is giving MP an outperform Smashchart 03/10/21 10:05:36 AM
#131   Yea right idccwin 03/06/21 03:46:40 PM
#130   Hey a billionaire thru owns this stock, so mdb1 03/05/21 12:17:48 PM
#129   going back to $15s???? mdb1 03/05/21 11:24:10 AM
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