MP Materials Doubles NdPr Output, Prepares 10X Magnet Facility After GM $50M Prepayment
In 2025, MP Materials doubled NdPr output to 2,599 MT and raised rare earth oxide concentrate production 12% to 50,692 MT. It produced first NdFeB magnets at Independence, secured a $50M GM prepayment and will commission a 7,000 MT Texas facility by 2028, lifting U.S. magnet capacity to 10,000 MT.
1. Record 2025 Production Milestones
MP Materials achieved a record 2,599 MT of NdPr production in 2025, more than double its 2024 output of 1,294 MT. Rare earth oxide concentrates rose 12% year over year to 50,692 MT, reflecting ongoing process optimization and ramped mining and processing capabilities at Mountain Pass.
2. First Commercial NdFeB Magnets and GM Prepayment
The Independence facility produced the company’s first commercial-scale NdFeB magnets, marking a key downstream milestone in U.S. magnet manufacturing. MP Materials received the final $50 million prepayment under its long-term supply agreement with General Motors, with precursor product sales generating early magnetics revenue in Q1 2025.
3. 10X Texas Facility Expansion Plan
In 2026, MP Materials plans to break ground on its 10X magnetics facility in Northlake, Texas, targeting commissioning by 2028. The new plant will add 7,000 MT of annual magnet capacity, bringing combined U.S. output with Independence to 10,000 MT for defense and commercial customers.