MP Materials Corp. (MP) Jefferies Battery Storage & Materials Virtual Conference (Transcript)

MP Materials Corp. (NYSE:MP) Jeffries Battery Storage & Materials Virtual Conference December 13, 2024 2:20 PM ET

Company Participants

Ryan Corbett – CFO

Conference Call Participants

Lawrence Alexander – Jefferies

Lawrence Alexander

Hi there. So, thank you. So, just continuing with the day, it’s my pleasure to introduce Ryan Corbett, who’s the CFO at MP Materials. And I think the way we’ll start off. Ryan, thank you very much for doing the discussion today. Let’s just jump right in.

Question-and-Answer Session

This virtual conference has been focused on battery materials, which, technically, your products are not directly involved in. But, so can you just give us your perspective on a brief overview, of your mission and in particular, talk about market structure, how the rare earth magnet market differs from the battery market in terms of structural dynamics?

Ryan Corbett

Sure, absolutely. And hi, Lawrence, thank you for having me. We appreciate it. Happy to be here. You certainly, you know, while we are not in the battery, we are close by to the battery. We often get confused as being a battery material. And I think a lot of critical minerals these days sort of, just get characterized as such. But rare earth permanent magnets, are generally found in the motor.

And what we do at MP Materials, is own and operate the Mountain pass mining and processing facility in Mountain Pass, California, which is one of the world’s largest rare earth mining and refining facilities. We have for the past many years been one of the world’s largest producers of rare earth content. About a year ago, we embarked on ramping up our refining facility, to produce the separated rare earth products.

Namely NdPr, neodymium, praseodymium that form the fundamental building block of permanent magnets. In addition to that, we have what