Materials/Manufacturing

MP Materials Begins Construction of Magnetics Factory, Cements Supply Deal with General Motors 

MP Materials has begun construction of its previously announced rare earth metal, alloy, and magnet manufacturing facility in Fort Worth, Texas, marking a significant return of magnet manufacturing operations in North America. The facility is […]

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 […]