Materials/Manufacturing

MP Materials to Build U.S. Magnet Factory, Enters Long-Term Supply Agreement with General Motors

MP Materials Corp. (NYSE: MP) announced today that it will build its initial rare earth (RE) metal, alloy and magnet manufacturing facility in Fort Worth, Texas. The company also announced that it has entered a binding, long-term agreement with General Motors (NYSE: GM) to supply U.S.-sourced and manufactured rare earth materials, alloy and finished magnets for the electric motors in more than a dozen models using GM’s Ultium Platform, with a gradual production ramp that begins in 2023. […]

Materials/Manufacturing

Rare Earths Producer MP Materials Reports Strong Results, Books $66 Million Charge for Loosening Chinese Ties

Business looks spectacular at MP Materials, the largest rare earth materials producer in the Western Hemisphere. In its most recent quarter, revenue doubled to $42.2 million compared to the same period a year ago, while for the […]