Our Mission is to restore the full rare earth supply chain to the United States of America.

MP Materials owns and operates Mountain Pass, the only integrated rare earth mining and processing site in North America. Our success will drive the onshoring of jobs, national security and a carbon-reduced future.

Building America’s next generation supply chain

MP Materials

The green technologies of the future—electric vehicles, wind turbines, drones, and more—depend on powerful rare earth magnets to turn energy into motion. Without the consistent and trusted supply provided by MP Materials, the entire supply chain for critical magnetic materials has shifted to Asia, primarily China. MP Materials serves as the beachhead for a renaissance in domestic manufacturing. It starts with us.

  • The trend towards electrification is driving rapid demand growth for NdPr—for example, electric vehicles consume ~5% of annual NdPr production today, but may consume ~100% of current annual production by 2035.
  • Without our consciously-mined materials, not only will the future growth of “green” technologies depend on highly-pollutant supply from China and greater Australasia, but our advanced R&D and manufacturing will continue to follow that supply overseas.
  • MP Materials is restoring the U.S.’s resource independence—removing the single point-of-failure in our industrial supply chain and ensuring that the U.S. has a seat at the table in driving the automotive, aerospace, wind-power, and IT technologies of the future.

Leadership

Mr. Litinsky will serve as the Chairman and Chief Executive Officer of MP Materials upon closing of the business combination with FVAC. He co-founded the Company in 2017. Mr. Litinsky is the Founder, Chief Executive Officer and Chief Investment Officer of JHL Capital Group LLC, an alternative investment management firm. Before founding JHL in 2006, he was a member of the Drawbridge Special Opportunities Fund at Fortress Investment Group. Prior to Fortress, he was a Director of Finance at Omnicom Group, and he worked as a merchant banker at Allen & Company. Mr. Litinsky received a B.A. in Economics from Yale University, cum laude, and a J.D./M.B.A. from the Northwestern University School of Law and the Kellogg School of Management. He was admitted to the Illinois Bar. Mr. Litinsky also serves as a member of the Boards of the Shirley Ryan AbilityLab and the Museum of Contemporary Art Chicago.

Mr. Rosenthal will serve as the Chief Operating Officer of the Company upon closing of the business combination with FVAC. Mr. Rosenthal co-founded the Company and has been managing the Mountain Pass operation since the Company took control of the site in 2017. Before joining MP Materials, he was a Partner at QVT Financial, an investment firm. At QVT, Mr. Rosenthal concentrated on investments in the global automotive sector and in China. Prior to joining QVT, he worked as a senior high yield credit analyst for Shenkman Capital Management. Mr. Rosenthal graduated from Duke University with an A.B. degree in Economics and Comparative Area Studies.

Mr. Corbett joined the Company as Chief Financial Officer in 2019. He was previously a Managing Director at JHL Capital Group LLC where he focused on the firm’s investment in MP Materials. Prior to joining JHL, he was an Analyst at Brahman Capital Corp. and King Street Capital Management LP, both alternative asset managers based in New York, where he focused on special situations investments across the capital structure. Mr. Corbett started his career in investment banking at Morgan Stanley & Co. He graduated magna cum laude from the Wharton School of the University of Pennsylvania with a concentration in Finance.

Ms. Bangalore joined the Company as its General Counsel and Chief Strategy Officer in 2020. Prior to MP Materials, Ms. Bangalore was most recently Assistant General Counsel at Aristocrat Technologies (ASX: ALL), and previously held legal roles at Zappos and Bally Technologies. Ms. Bangalore began her career at Bilzin Sumberg Baena Price & Axelrod LLP. She is a former Board member and President of the Association of Corporate Counsel, Nevada Chapter. Ms. Bangalore received her B.A. in Literature from Tufts University and her J.D. from the Washington University in St. Louis. She is currently an MBA Candidate at the Wharton School of the University of Pennsylvania.

Mr. Litinsky will serve as the Chairman and Chief Executive Officer of MP Materials upon closing of the business combination with FVAC. He co-founded the Company in 2017. Mr. Litinsky is the Founder, Chief Executive Officer and Chief Investment Officer of JHL Capital Group LLC, an alternative investment management firm. Before founding JHL in 2006, he was a member of the Drawbridge Special Opportunities Fund at Fortress Investment Group. Prior to Fortress, he was a Director of Finance at Omnicom Group, and he worked as a merchant banker at Allen & Company. Mr. Litinsky received a B.A. in Economics from Yale University, cum laude, and a J.D./M.B.A. from the Northwestern University School of Law and the Kellogg School of Management. He was admitted to the Illinois Bar. Mr. Litinsky also serves as a member of the Boards of the Shirley Ryan AbilityLab and the Museum of Contemporary Art Chicago.

Mr. Rosenthal will serve as the Chief Operating Officer of the Company upon closing of the business combination with FVAC. Mr. Rosenthal co-founded the Company and has been managing the Mountain Pass operation since the Company took control of the site in 2017. Before joining MP Materials, he was a Partner at QVT Financial, an investment firm. At QVT, Mr. Rosenthal concentrated on investments in the global automotive sector and in China. Prior to joining QVT, he worked as a senior high yield credit analyst for Shenkman Capital Management. Mr. Rosenthal graduated from Duke University with an A.B. degree in Economics and Comparative Area Studies.

Mr. Corbett joined the Company as Chief Financial Officer in 2019. He was previously a Managing Director at JHL Capital Group LLC where he focused on the firm’s investment in MP Materials. Prior to joining JHL, he was an Analyst at Brahman Capital Corp. and King Street Capital Management LP, both alternative asset managers based in New York, where he focused on special situations investments across the capital structure. Mr. Corbett started his career in investment banking at Morgan Stanley & Co. He graduated magna cum laude from the Wharton School of the University of Pennsylvania with a concentration in Finance.

Ms. Bangalore joined the Company as its General Counsel and Chief Strategy Officer in 2020. Prior to MP Materials, Ms. Bangalore was most recently Assistant General Counsel at Aristocrat Technologies (ASX: ALL), and previously held legal roles at Zappos and Bally Technologies. Ms. Bangalore began her career at Bilzin Sumberg Baena Price & Axelrod LLP. She is a former Board member and President of the Association of Corporate Counsel, Nevada Chapter. Ms. Bangalore received her B.A. in Literature from Tufts University and her J.D. from the Washington University in St. Louis. She is currently an MBA Candidate at the Wharton School of the University of Pennsylvania.

MP Materials owns and operates Mountain Pass,
the only Rare Earth mining and processing site in North America

1865 The Clark Mining District is organized, named after Senator William A. Clark, the "Copper King" of Montana
1870-1895 Gold, Silver, Copper, Zinc, Lead, and Antimony prospecting and mining
1949 The Mountain Pass deposit, including the Birthday Claims and Sulphide Queen carbonatite, is discovered
1952 Molybdenum Corporation of America begins rare earth production at Mountain Pass after purchasing the recently discovered claims
1960s Production greatly expands at Mountain Pass to supply Europium, used to produce the red tint in color televisions
1965-1995 Known as the “Mountain Pass Era” — Mountain Pass produces the significant majority of global rare earth materials
1997 Unocal acquires Mountain Pass
2002 Unocal suspends mining
2005 Chevron acquires Unocal
2008 Mountain Pass is acquired by an investor group
2010 Project Phoenix—a >$1.5Bn investment and modernization program—begins at Mountain Pass
2015 Mountain Pass is idled; investment manager JHL Capital Group acquires a controlling position in the Mountain Pass estate
2017 MP Materials is created by JHL and QVT Financial to acquire Mountain Pass and restore it as one of the premier global materials operations
Q4 2017 Mining operations are restarted at Mountain Pass
2018 First sales of rare earth concentrate
2019 MP Materials achieves run-rate production of >30,000 metric tons of REO in concentrate, or ~15% of the global market
End of 2020 Downstream processing and separations facilities to restart; first NdPr oxide sales

Our Story

Rare earths power the modern economy. They are essential components in a wide range of clean energy, information technology, defense and industrial applications.

Mountain Pass’s bastnaesite ore is one of the world’s highest quality rare earth deposits with a greater than 8% average grade. The mine started production in 1952, and was a dominant source of rare earth minerals in the world into the 1990s until prior owners exited the industry. More recently, Chinese rare earth production has grown to account for more than 80% of the global supply, and rare earth mining and processing stopped in the United States.

Current ownership and management acquired the Mountain Pass assets in 2017, restarted operations from cold-idle status and embarked on a plan to recommission the facility and position MP Materials for growth and profitability.

With the first stage of our plan completed, MP Materials has re-emerged as a best-in-class, globally competitive rare earths producer. Today, we produce approximately 15% of the global supply of rare earths, currently in the form of an intermediate product—rare earth concentrate—that requires further processing in Asia. Following completion of the second stage of our recommissioning, expected by 2022, MP Materials will relaunch its onsite processing facilities, setting the foundation for a renewed, self-sufficient U.S. rare earth industry.

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