MP Materials Sees Record Production and Strategic Partnerships Amid Losses
In 2025, MP Materials achieved a record output of 2,599 metric tons of neodymium-praseodymium oxide, a 101% increase from 2024, bolstering its position in the rare-earth market. Despite a revenue increase to $224 million, the company posted a net loss of $85.8 million, highlighting the challenge of converting output gains into profitability.
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MP Materials reported a significant increase in production, achieving 2,599 metric tons of neodymium-praseodymium oxide in 2025, which supported its role as the only large-scale rare-earth mine in the U.S. Revenue for the year reached $224 million, a 10% rise, while net losses widened to $85.8 million.
The company commenced production of neodymium-iron-boron magnets at its Fort Worth facility and secured a $500 million agreement with Apple for magnet manufacturing, supported by a $200 million prepayment. Additionally, the Department of Defense invested $400 million in 2025, becoming the largest shareholder.
Despite increased output and revenue, the company faces high operational costs, raising concerns about sustainable profitability as it expands its magnet production capabilities. The dynamics of U.S. rare-earth supply chains are critical given China's market dominance.
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