The U.S. rare earths producer MP Materials released its quarterly results on Thursday.
In the fourth quarter of 2025, the company returned to profitability but reported a 14 percent decline in revenue compared with the same period last year. MP Materials attributes this decrease to its decision to stop supplying concentrate to China. This step was a condition of its strategic partnership with the U.S. Department of Defense. The agreement includes price guarantees, which have now had a positive effect on earnings. Overall, the reported figures reflect the company’s strategy of focusing on processed products, particularly those used in magnet manufacturing.
MP Materials also intends to expand significantly into manufacturing itself. Northlake, Texas, has been selected as the site for production, the company announced on Thursday. The company expects to invest approximately $1.25 billion in the facility, which will have an annual production capacity of 10,000 metric tons of neodymium-iron-boron magnets. This represents ten times the capacity of the existing plant in nearby Fort Worth, where MP Materials produced its first rare earth magnet prototypes at the beginning of 2025.
The state of Texas is supporting construction of the Northlake plant with nearly $70 million. Around 1,500 jobs are expected to be created at the site.
Photo: MP Materials