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MP Materials Secures Strategic Partnerships Amid Production Surge
MP Materials, a rare earth metals specialist, has secured three major deals in 2025, including a $400 million investment from the Department of Defense, a $500 million partnership with Apple, and a joint venture with the DOD and Saudi Arabian Mining Company to build a rare-earth refinery in Saudi Arabia. The company reported a 51% year-over-year increase in neodymium-praseodymium (NdPr) oxide production in its latest quarterly output.
Operating one of the only rare-earth metal mines in the U.S., MP is ramping up production to meet escalating demands for high-performance magnets critical to various industries, including defense and electronics. Despite facing challenges in scaling its magnet production, which is expected to slightly increase in 2026, the company is positioned at the forefront of domestic supply chain efforts for rare-earth metals.
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