China controls 70% of the world's critical rare earth minerals. Finding an alternative is proving tough—and expensive [Fortune]
MP Materials Corp. (MP)
Company Research
Source: Fortune
Even when it does, China's dominance of the market—it controls about 70% of output and more than 90% of refining—means that goal will likely remain out of reach. The Texas plant, to be built by Australia-based Lynas Rare Earths Ltd., represents a fraction of billions of dollars in subsidies and loans promised for the production and refining of the minerals in the U.S. and its key allies. For the 149-acre (60 hectares) site, Lynas won more than $300 million in Pentagon contracts. If all goes to plan, it will be operating a plant to process rare earths there in two years. But while national security is a primary driver of the programs in the U.S. and elsewhere, a slump in prices since 2022 is undermining the business case for those projects. That's raising questions about whether this and similar efforts can develop into a supply chain to rival Chinese firms protected by their government. “These market conditions have now destroyed most of the hoped-for projects from just a coupl
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MP
News
- MP Materials Corp. (NYSE: MP) had its price target raised by analysts at Robert W. Baird from $20.00 to $25.00. They now have an "outperform" rating on the stock.MarketBeat
- MP Materials Corp. (NYSE: MP) had its price target raised by analysts at Morgan Stanley from $13.50 to $16.00. They now have an "equal weight" rating on the stock.MarketBeat
- US Allies Struggle to Break China's Dominance of Rare Earths [Yahoo! Finance Canada]Yahoo! Finance Canada
- US Allies Struggle to Break China's Dominance of Rare Earths [Yahoo! Finance Canada]Yahoo! Finance Canada
- MP Materials Announces Increase to its Share Repurchase ProgramBusiness Wire
MP
Earnings
- 8/1/24 - Miss
MP
Sec Filings
- 9/6/24 - Form SD
- 9/3/24 - Form 8-K
- 8/8/24 - Form 4
- MP's page on the SEC website