In 1949, prospectors searching for uranium in the Clark Mountain Range detected a geological anomaly. Upon investigation, they found bastnaesite, a mineral rich in rare earth elements. Following the discovery, the Molybdenum Corporation of America acquired most of the mining claims in the area. By 1952, they had commenced small-scale production of rare earth elements.
Mountain Pass faces significant challenges and underinvestment. As globalization reshapes the economy, attention on the rare earth industry wanes, allowing production to shift overseas. While its strategic importance is acknowledged, efforts to revitalize Mountain Pass struggle.
MP’s co-founders, together with an original team of eight, restart mining operations at Mountain Pass and embark on a mission to restore the full rare earth supply chain in the United States.
MP restarts mining operations at Mountain Pass.
Scaling up
MP stabilizes production at a run-rate exceeding 30,000 MT of contained TREO, or ~15% of global production.
Going public
MP is listed on the NYSE.
Establishing a benchmark
MP achieves record annual production of ~42,400 MT of contained TREO.
Expanding downstream
MP breaks ground on Independence, a fully integrated metal and magnet manufacturing facility in Texas.
Restoring vital capabilities
MP initiates midstream separations and refining operations at Mountain Pass.
Fulfilling the mission
MP achieves record upstream and midstream production at Mountain Pass. Production of metal and magnets begins at Independence.
