5 Largest Rare Earth Companies in the World

4. MP Materials (NYSE:MP)

Market Cap:$3.854 billion 

MP Materials Corporation is valued at $3.854 billion in market capitalization, as of current, and is a prominent company in the American rare earth minerals sector. The company works in the extraction of Neodymium-Praseodymium (NdPr), a rare earth element used in high-strength permanent magnets. These magnets are used in electric vehicle traction motors, robotics, wind energy turbines, and unmanned aerial vehicles, and NdPr is a critical element for energy transition.

The company’s primary asset is the Mountain Pass Mine, the largest rare earth mine in the United States. This mine produced approximately 42,400 metric tons of REEs in 2022 and helped maintain the country’s annual throughput. MP Materials is proactive in the broader context of sustainability and claims to be working towards a carbon-reduced future. MP Materials is striving towards self-sufficiency in the domestic supply chain for REEs and aims to minimize the environmental impact associated with long-distance imports from China and Australia.