MP Minerals got their magnet plant going. Good. MP Minerals operates the Mountain Pass, CA rare earths mine. This was the largest rare earths mine in the world at one time. After several shutdowns and two bankruptcies due to low rare earth prices, MP Minerals bought the mine in 2017 and had it producing ore in 2020. The mine already had a "beneficiation" plant, where raw ore goes in and a mix of rare earth elements,…
> After several shutdowns and two bankruptcies due to low rare earth prices... It's important to contextualise this, it is probably the most important part of the entire story. Rare earths aren't all that rare, they generally have a crustal abundance comparable to copper. The question of where rare earth mining & processing happens is mainly one of price. Or, accounting for second order effects, a question of environ…
Owning the whole supply chain is a win because the price of magnet-ready alloy fluctuates less than the price of dirt with some rare earths mixed in.
[1] https://www.forbes.com/sites/timtreadgold/2015/05/15/chinese...