MP Materials To Benefit From Trump’s Rare Earth Tariffs

MP Materials, operator of the Mountain Pass mine in California’s Mojave Desert, is ramping up production of critical rare earth elements and magnets used in autos, electronics, and military hardware as China tightens its exports, Alan Ohnsman reported for Forbes.

Mountain Pass is the only U.S. rare earths mine, supplying crucial elements like neodymium and praseodymium for industries including defense, automotive, and electronics. I Photo: MP Materials

Following China's retaliation against President Trump's tariffs — including restrictions on exports of rare earth minerals — MP Materials' CEO Jim Litinsky reported an unprecedented surge in demand.

“The sense of urgency, I've never seen anything like it,” Litinsky said.

Mountain Pass is the only U.S. rare earths mine, supplying crucial elements like neodymium and praseodymium for industries including defense, automotive, and electronics.

Starting this year, MP will also manufacture high-powered magnets at a new Texas facility — a market currently dominated by China, which processes 90% of the world’s rare earth metals and manufactures 95% of rare earth magnets.

A U.S.-based carmaker board member commented, “The stuff China just put export controls on is a freaking big deal. We won’t be able to make motors anymore — or anything that has a spinning magnet in it. Game over.”