ZeroHedge – Markets

MP's "Strong" Quarter: Accelerated Production, Long-Term Agreements With Major Tech Companies

MP Materials posted a fourth‑quarter revenue of $52.7 million and net income of $9.4 million, buoyed by a U.S. Department of War price‑floor agreement. The company recorded a 12% year‑over‑year increase in rare‑earth oxide concentrate, producing a record 50,692 metric tons, and more than doubled NdPr oxide output to 2,599 metric tons. It halted sales to China, shifted toward higher‑value separated products, and delivered its first commercial NdFeB magnets while securing a $200 million incentive for a new Texas facility. New long‑term offtake contracts with Apple and a strategic OEM, likely Tesla, underline its expanding downstream footprint.