What are Rare Earth Elements?
Rare earths are fundamental building blocks of the modern economy, enabling trillions of dollars in global GDP via a wide range of clean energy, information technology, defense and industrial applications. Mountain Pass is one of the richest deposits of rare earth elements in the world. Today, MP Materials produces a concentrate that contains about 15% of the rare earth content consumed annually. Following completion of our Stage II optimization project, expected in 2022, MP Materials will re-commission the integrated processing facilities at Mountain Pass to produce separated rare earths with a focus on high-purity Neodymium-Praseodymium (NdPr) oxide, the primary ingredient in the world’s most efficient and highest strength permanent magnets.
- Rare earths are a series of chemical elements found in the earth’s crust that are vital to many modern technologies.
- Extensive processing is required to separate rare earth elements from mined ore.
- While the elements themselves aren’t rare, ore bodies containing sufficient concentrations to make processing economically viable are exceedingly rare.
- Unique magnetic and electrochemical properties of the elements enable technologies to perform with greater efficiency, performance, and durability—often by reducing weight, emissions, or energy consumption.
- Rare earth-enabled technologies power global economic growth, enable life-saving products, and help shrink our carbon footprint.