MP Materials

“So then, most recently, we, we've seen the Trump administration take you know, equity in certain companies. Right, so this is, like, Intel. This is MP Materials.”

“And then also MP materials, which by the way, like manufacturers, a lot of their magnets through China.”

“MP has a deal with General Motors, one of my businesses that makes LFP cathode, same deal with GM.”

“I think the way they're structuring some of these is actually really clever, right? Like they basically, with one of these, this empty materials company, they basically guaranteed a minimum offtake and a price floor.”

“I think alongside that certain areas of the government where there's a lot of immature companies, they're going to spend the next year making eight bets and seeing how it plays out. And in certain other areas, I think in the next two years, what you're going t…”

“In early July, the Defense Department took a minority stake in MP materials and maker of rare earth magnets. Days later, Apple, which the Trump administration had long pressured to expand its U.S. Supply chain, announced a five hundred million dollar deal to b…”

“The DoD has forged a strategic partnership with a firm called MP Materials for seven hundred and fifty million dollars to reboot domestic rare earth magnet production.”

“The solution to help put the genie back in the bottle is, I think actually the DoD's deal with MP Materials offers a good template, which is you need an anchor buyer and an end customer, and you need a price floor. So you need to agree with the supplier, in th…”

“In MP materials, they operate the only scaled rare earth mine in North America right now.”

“If the government can support kind of a critical problem here in subsidized pricing and help create a market, right? Like there's no price, there's no market that exists right now here because you don't have the ability to get to critical scale... Basically yo…”

“We're a hundred percent of the American industry.”

“So we're expanding our facility in Texas for Apple. I'll talk about that in a second, but we're then going to build a Tenex facility to Tenex our capacity with DoD as our a hundred percent offtake partner customer and business partner, because we'll be splitti…”

“It would not surprise me if when we, five years from now, hopefully we'll do this conference, and Chamath, you'll say to me, Jim, you know, I remember that deal that was the first of its kind that you did with DoD, And the government made money on you. The tax…”

“We have 850 employees today at MP. We're gonna hire, when we include what we're building out for Apple coupled with what we're building with DOD, we're gonna need a couple thousand more people easily, not to mention the construction jobs.”

“MP produces about 15% of the global rare earth supply.”

“I haven't heard anything about Chamath's involvement in any rare earth project beyond he helps back camping materials five or so years ago. I haven't heard anything. Maybe he does. I hope he does. That would be great. There was some massive rare earths mine th…”

“For instance, MP materials in the U.S. Basically has almost no heavy rare earths in, in, in the deposit, but they have a lot of lights in DPR.”

“Vacuum Schmitz is building a large magnet manufacturing facility in South Carolina. MP Materials in Texas and a few other companies are building capacity.”

“Anyway, as of today, out of the 40 companies that I track, only one is trading above its merger price, which is notable in and of itself. That one happens to be MP Materials, which is a rare earth mining company.”

“So outside of us, this entire supply chain is essentially domiciled in China.”

“And so these assets, this is about two billion dollars of replacement costs”

“We're now doing approximately four hundred and fifty million of run rate EBITDA today.”