What are Rare Earth Elements?
Rare earths are fundamental building blocks of the modern economy, enabling trillions of dollars in global GDP via a wide range of clean energy, information technology, defense, and industrial applications. Mountain Pass is one of the richest deposits of rare earth elements in the world. Today, MP Materials produces about 15% of the rare earth content consumed annually. In 2023, we re-commissioned the integrated processing facilities at Mountain Pass and began producing separated and refined rare earth products with a focus on high-purity Neodymium-Praseodymium (NdPr) oxide, the primary ingredient in the world’s most efficient and highest strength permanent magnets.
- Rare earths are a series of chemical elements found in the earth’s crust that are vital to many modern technologies.
- Extensive processing is required to separate rare earth elements from mined ore.
- While the elements themselves aren’t rare, ore bodies containing sufficient concentrations to make processing economically viable are exceedingly rare.
- Unique magnetic and electrochemical properties of the elements enable technologies to perform with greater efficiency, performance, and durability—often by reducing weight, emissions, or energy consumption.
- Rare earth-enabled technologies power global economic growth, enable life-saving products, and help shrink our carbon footprint.