MP Materials Corp. 10-K filed Feb 26, 2026

Modified · Overview

MP Materials Corp., including its subsidiaries (the “Company,” “MP Materials,” “we,” “our,” and “us”), is the largest producer of rare earth materials in the Western Hemisphere. Headquartered in Las Vegas, Nevada, the Company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility (“Mountain Pass”) located near Mountain Pass, San Bernardino County, California, the only rare earth mining and processing site of scale in North America. The Additionally, the Company is also developingowns and operates a rare earth metal, alloy and magnet manufacturing facility in Fort Worth, Texas (“Independence” or the “Independence Facility”). The Company’s operations are organized into two reportable segments: Materials , where the Company produces and sells magnetic precursor products and Magnetics. See Note 20, “Segment Reporting,commenced the manufacturing of neodymium-iron-boron (“NdFeB” ) permanent magnets in the notes to the Consolidated Financial Statements for additional informationDecember 2025. The Company’s operations are organized into two reportable segments: Materials and Magnetics.