As the U.S. invests in rare earths, a mine that was broke and underwater 10 years ago is now a game-changer A decade after acquiring a shuttered rare earths mine that was partially submerged, MP Materials CEO James Litinsky has turned his business into a critical player in America’s national security. Since the 1990s, China has dominated the rare earth supply chain, controlling mining, processing, and the production of super-powered magnets essential for smartphones, robotics, fighter jets, and drones. When President Trump imposed tariffs in April 2025, China retaliated by restricting rare earth exports to the U.S. and requiring detailed disclosures on their use. Litinsky criticized this dependency, stating, “We need permission from the Chinese government to make things. We need permission from the Chinese government to make military things. That is not an acceptable condition.” Rare earths are not rare in name but in their concentration and accessibility. There are 17 rare earth elements, each with unique properties. These metals, like europium and neodymium, are used in everything from high-speed rail and electric vehicles to the tiny motors in iPhones. Julie Klinger, a rare earths expert, explained, “Rare earth elements are like spices in cooking. A little bit can transform a magnet into something small and powerful.” Mountain Pass, California, was once the world’s primary rare earth mine, discovered in 1949. By the 1960s, individual elements were being mined and refined. However, the industry shifted to China due to lower costs. Environmental regulations in the 1990s, following radioactive leaks into the Mojave Desert, led to the mine’s decline. Molycorp, a company attempting to revive Mountain Pass, failed and filed for bankruptcy in 2015.#fort_worth #mp_materials #james_litinsky #mountain_pass #michael_rosenthal
