MP Materials ceased shipments of rare earth concentrate to China

MP Materials (MP) said in a statement: “In response to China’s retaliatory tariffs and export controls, MP Materials has ceased shipments of rare earth concentrate to China. Selling our valuable critical materials under 125% tariffs is neither commercially rational nor aligned with America’s national interest. We have been preparing for this moment since day one. Our mission, capital strategy, and execution reflect a long-term vision built to withstand short-term dislocation and emerge stronger. MP has invested nearly $1 billion to restore the full rare earth supply chain in the United States. Today, our California refinery is processing nearly half of our production, with virtually all of that material sold into markets outside China-including Japan, South Korea, and the United States. We continue to produce and are stockpiling concentrate while accelerating downstream operations: ramping oxide production, fast-tracking heavy rare earth separation, and bringing magnet production online in Texas. In recent days, manufacturers across critical industries have urgently reached out in search of a secure, resilient source of materials and magnets. We are uniquely positioned to answer that call. We are also in close contact with federal leaders and encouraged by their determination to support American industry-now and in the long term.”