Overview
- MP Materials produced a record 597 metric tons of neodymium-praseodymium oxide in Q2, marking a nearly 120% year-on-year increase.
- The company narrowed its adjusted loss to 13 cents per share, down from 17 cents in the same quarter last year.
- MP expects NdPr oxide output to rise 10% to 20% sequentially in the current quarter.
- The Defense Department invested $400 million in equity at a $110 per kilogram price floor for NdPr and Apple pledged $500 million for magnet supply and recycling.
- Backed by those agreements and a $650 million stock offering, MP is set to accelerate a domestic mine-to-magnet supply chain.