MP Materials: Pioneering U.S. Rare Earth Magnet Industry

MP Materials is not merely entering the rare earth magnet market—they are constructing the entire U.S. value chain for NdFeB magnets at an industrial scale. With production already underway, strong government backing, and ambitious expansion plans, MP Materials is set to become the first and dominant fully integrated rare earth-to-magnet manufacturer in the United States by 2028. This transformation will significantly reduce U.S. dependence on foreign supply chains, particularly China, and tap into a rapidly growing $19 billion+ annual market, reinforcing national security and supporting the country’s clean energy transition. Under the visionary leadership of CEO James Litinsky and his experienced management team, MP Materials is delivering on a critical strategic imperative for America’s technological and economic future.