MP Materials began constructing its Fort Worth, Texas, manufacturing facility in April 2022. The company is currently producing magnet precursor materials in a North American pilot facility. It expects to commence commercial production of precursor materials in Fort Worth this summer and finished magnets by late 2025.
EXIM didn't start lending MMIA money until the first loan in August 2023. DoD gave MP $35m in February 2022. NioCorp needs significantly more than $800m. Different agencies, different rules, different budgets, different contracting goals.
I deleted the previous message because AO had already posted the same thing in #112776
MP is an operating mine that received money from the DOD and DOE to help build a domestic REE processing facility in Texas. NB is a startup in the application process to receive funding from EXIM Bank.