Lone U.S. Rare-Earth Miner Is a Target of China Tariffs, CEO Says
- MP Materials ships 3,000- 4,000 tons to the Asian giant
- Rare earth shipments are used in magnets for electric cars
Photographer: Casper Hedberg/Bloomberg
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The only U.S. rare-earths miner is crying foul over China’s decision to raise tariffs on American shipments of the raw materials used in electric vehicles.
MP Materials -- once the world’s biggest producer of rare-earth materials -- exports 3,000 to 4,000 metric tons of concentrates a month to the Asian nation from its Mountain Pass mine in California. The elements MP exports include neodymium and praseodymium, used in the magnets for electric motors.