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 a concentrate that contains about 15% of the rare earth content consumed annually. By 2022 we will produce high-purity separated Neodymium and Praseodymium (NdPr) oxide, Lanthanum and Cerium oxides and carbonates, and a “heavy” rare earth concentrate.
- 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