MP Materials (NYSE: MP) details 2024 resource extraction payments in Form SD

Rhea-AI Filing Summary

MP Materials Corp. filed a specialized disclosure report covering resource extraction payments for the year ended December 31, 2024. The company states that conflict minerals disclosure and related exhibits are not applicable.

The report explains that MP Materials operates two segments: Materials, which includes the Mountain Pass Rare Earth Mine and Processing Facility, and Magnetics, which includes the Independence Facility for metal, alloy, and magnet manufacturing. Mountain Pass is treated as a single project within the Materials segment. All payments to governments are reported in U.S. dollars and detailed in the attached Resource Extraction Payment Report exhibits.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM SD

SPECIALIZED DISCLOSURE REPORT

MP MATERIALS CORP.

(Exact name of registrant as specified in its charter)

Delaware

001-39277

84-4465489

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1700 S. Pavilion Center Drive, Suite 800

Las Vegas, Nevada 89135

(Address of principal executive offices and Zip Code)

Ryan Corbett

(702) 844-6111

(Name and telephone number, including area code, of the person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this Form is being submitted, and provide the period to which the information in this Form applies:

☐ Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, _____.

☑ Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2024.

SECTION 1 - CONFLICT MINERAL DISCLOSURE

Item 1.01 - Conflict Minerals Disclosure and Report

Not applicable.

Item 1.02 - Exhibit

Not applicable.

SECTION 2 - RESOURCE EXTRACTION ISSUER DISCLOSURE

Item 2.01 - Resource Extraction Issuer Disclosure and Report

Disclosure of Payments by Resource Extraction Issuers

The payment disclosure required by this Item 2.01 is included as Exhibit 2.01 and Exhibit 99.1 to this Form SD.

Report on Payments to Governments for the Year Ended December 31, 2024

This report provides a consolidated overview of the payments to governments made by MP Materials Corp., including its subsidiaries (the “Company”, “MP Materials” “we,” “our,” and “us”) for the fiscal year ended December 31, 2024.

All payments are reported in U.S. dollars (“USD”).

Our Business Segments

Operating segments are defined as components of an enterprise engaged in business activities, about which separate financial information is available and evaluated regularly by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. As of December 31, 2024, the Company’s CODM viewed the Company’s operations and managed the business as two reportable segments—Materials and Magnetics—primarily based on the Company’s internal organizational structure and types of products.

The Materials segment operates the Mountain Pass Rare Earth Mine and Processing Facility, a fully integrated mining and refining facility, where the Company produces refined rare earth products as well as rare earth concentrate and related products.

The Magnetics segment operates the Independence Facility, a fully integrated metal, alloy, and magnet manufacturing plant, where the Company produces magnetic precursor products and anticipates manufacturing neodymium-iron-boron permanent magnets by the end of 2025.

Our Projects

As of December 31, 2024, we owned and operated the Mountain Pass Rare Earth Mine and Processing Facility (“Mountain Pass”), which we consider to be one project, included in the Materials segment.

SECTION 3 - EXHIBITS

Item 3.01 - Exhibits

The following exhibits are filed as part of this report.

Exhibit No.						Description
2.01						Interactive Data Files (Resource Extraction Payment Report as required by Item 2.01 of this Form SD for the year ended December 31, 2024 filed in XBRL).
99.1						Resource Extraction Payment Report as required by Item 2.01 of this Form SD.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 5, 2025						MP Materials Corp.
						By:			/s/ Elliot D. Hoops
									Elliot D. Hoops
									General Counsel and Secretary

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FAQ

What does MP Materials (MP) disclose in its 2024 Form SD?

MP Materials discloses payments to governments related to resource extraction for the year ended December 31, 2024. The detailed payment information is provided in a Resource Extraction Payment Report, included as Exhibits 2.01 and 99.1, with all amounts reported in U.S. dollars.

Does MP Materials (MP) provide a conflict minerals report in this filing?

No, MP Materials states that the conflict minerals disclosure and related exhibit items are not applicable. The Form SD instead focuses on required disclosure of payments to governments by resource extraction issuers for the fiscal year ended December 31, 2024.

Which business segments does MP Materials (MP) describe in this report?

MP Materials describes two segments: the Materials segment, operating the Mountain Pass Rare Earth Mine and Processing Facility, and the Magnetics segment, operating the Independence Facility for metal, alloy, and magnet production, including anticipated neodymium-iron-boron permanent magnets by the end of 2025.

What resource extraction project does MP Materials (MP) identify?

MP Materials identifies the Mountain Pass Rare Earth Mine and Processing Facility as one project within its Materials segment. As of December 31, 2024, the company owned and operated Mountain Pass as its key rare earth mining and processing operation.

In what currency are MP Materials (MP) government payments reported?

MP Materials reports all payments to governments in U.S. dollars. The consolidated overview and the detailed Resource Extraction Payment Report for the year ended December 31, 2024, both use USD as the reporting currency.

Where can investors find the detailed payment data for MP Materials (MP)?

The detailed payment data are included in Exhibit 2.01 and Exhibit 99.1 to the Form SD. These exhibits together comprise the Resource Extraction Payment Report for the year ended December 31, 2024, filed in both interactive data and narrative formats.