MP Materials

Owner of Mountain Pass, the only operating rare earth mine and processing facility in the United States. - Only major US rare earth producer; DOD's largest investment

The United States imports 80% of its rare earth elements and depends on China for virtually all processing of the materials that power electric vehicles, wind turbines, and precision-guided weapons. On January 14, 2026—one day before the Department of Energy's (DOE) $134 million Rare Earth Demonstration Facility application deadline—President Trump signed an executive order invoking Section 232 national security authorities to force trade negotiations on critical mineral imports, with a July 13 deadline for agreements or potential tariffs. Since late January, the administration has escalated with a $3.1 billion investment in USA Rare Earth and the February 2026 launch of Project Vault—a $12 billion strategic stockpile mirroring the Strategic Petroleum Reserve.

Updated Feb 5

America's only operating rare earth mine and processing facility, based in California. - U.S. DOD 15% stakeholder, operates Mountain Pass mine

China controls 70% of rare earth mining and 90% of refining—the 17 obscure elements that power everything from F-35 fighter jets to iPhones. In April 2025, Beijing weaponized that dominance. When Trump announced Liberation Day tariffs, China retaliated by restricting exports of seven rare earth elements. By October, it expanded controls to twelve elements and invoked the foreign direct product rule—the same tool America used to choke China's chip industry—claiming jurisdiction over any product globally that touches Chinese rare earth technology.

Updated Jan 8