MP Materials is the largest rare earth materials producer in the Western Hemisphere, operating an integrated mining, refining, and magnet manufacturing business centered on its Mountain Pass facility in California and complemented by magnetic manufacturing at its Independence facility in Texas. The company produces refined rare earth oxides, metals, alloys, and permanent magnets sold primarily to customers across Asia, North America, and Europe, with end applications in electric vehicles, renewable energy, aerospace, defense, industrial robotics, and consumer electronics. Revenue derives from sales of rare earth concentrates, separated rare earth products, and magnetic components, supplemented by strategic partnerships including supply agreements with original equipment manufacturers and government entities that provide demand visibility and support for downstream magnet manufacturing capacity expansion.