{
  "projectionVersion": "smpt-investigation-1",
  "projectId": "prj-us-mp-independence-expansion",
  "corpus": {
    "revision": "2026-11-03",
    "legalStatusCutoff": "2026-11-03",
    "view": "current_corpus_revision",
    "notice": "Curated corpus revision, not source freshness or historical known-as-of coverage. Financial histories retain their own status dates."
  },
  "project": {
    "id": "prj-us-mp-independence-expansion",
    "name": "Independence Facility capacity expansion",
    "sponsorOrgIds": [
      "org-mp-materials"
    ],
    "locations": [
      {
        "countryCode": "US",
        "subnational": "Texas",
        "asStated": "the Company’s Independence Facility located in Fort Worth, Texas"
      }
    ],
    "stages": [
      "component_manufacturing"
    ],
    "materialIds": [
      "ndfeb-magnets"
    ],
    "materialAttribution": "tracked_only",
    "untrackedMaterialsAsStated": [],
    "evidence": [
      {
        "sourceId": "src-dod-mp-transaction-agreement-2025",
        "supports": [
          "name",
          "sponsors",
          "location",
          "stages",
          "materials"
        ],
        "evidence": "explicit",
        "locator": "Item 1.01, Transaction Agreement definitions and Facility Improvements",
        "note": "The filing defines the Independence Facility in Fort Worth, Texas and requires expansion of its rare-earth metal, alloy and permanent-magnet manufacturing capacity to a projected 3,000 tons of magnets annually."
      }
    ],
    "notes": "The $600 million company-cash undertaking also supports other MP projects and is associated with this project without a project-specific allocation."
  },
  "organizations": [
    {
      "id": "org-mp-materials",
      "name": "MP Materials Corp.",
      "nameOriginal": null,
      "aliases": [
        "MP Materials"
      ],
      "kind": "company",
      "roles": [
        {
          "role": "registered_sponsor",
          "recordId": "prj-us-mp-independence-expansion"
        },
        {
          "role": "recipient",
          "recordId": "fin-us-dod-mp-2025-company-cash"
        }
      ],
      "evidence": [
        {
          "sourceId": "src-dod-mp-transaction-agreement-2025",
          "supports": [
            "name",
            "kind",
            "country"
          ],
          "evidence": "explicit",
          "locator": "Cover page",
          "note": "State of incorporation: Delaware; principal executive offices in Las Vegas, Nevada."
        }
      ]
    }
  ],
  "financialInstruments": [],
  "nonallocativeAssociations": [
    {
      "id": "fin-us-dod-mp-2025-company-cash",
      "eventId": "evt-us-dod-mp-2025",
      "instrument": "unspecified",
      "valueRole": "recipient_own_funds",
      "capitalSource": "private",
      "projectRelationship": "nonallocative_association",
      "projectId": null,
      "associatedProjectIds": [
        "prj-us-mp-10x-facility",
        "prj-us-mountain-pass-samarium",
        "prj-us-mp-independence-expansion",
        "prj-us-mp-mountain-pass-hcl-facilities"
      ],
      "amount": {
        "value": "600000000",
        "currency": "USD",
        "qualifier": "up_to",
        "amountAsStated": "The Company has also agreed to use up to $600,000,000 of its existing cash to fund the above projects.",
        "currencyBasis": "issuer_context",
        "basisNote": null,
        "basisLabel": null
      },
      "amountBasis": "current_recorded_terms_not_historical_totals",
      "provider": null,
      "providerJurisdiction": null,
      "providerOrgIds": [],
      "recipient": "MP Materials Corp.",
      "recipientOrgIds": [
        "org-mp-materials"
      ],
      "programmeId": null,
      "legalAuthority": null,
      "facility": null,
      "locations": [],
      "materialIds": [
        "rare-earth-elements",
        "ndfeb-magnets"
      ],
      "stages": [
        "refining",
        "component_manufacturing"
      ],
      "currentFinancialStatus": "decided",
      "financialStatusHistory": [
        {
          "status": "decided",
          "date": "2025-07-09",
          "sourceId": "src-dod-mp-transaction-agreement-2025",
          "note": "An undertaking in the Transaction Agreement."
        }
      ],
      "legacyPhysicalObservations": [],
      "terms": [],
      "statedOutcomes": [
        {
          "metric": "annual_capacity",
          "value": "3000",
          "qualifier": "exact",
          "unit": "tons of magnets annually",
          "targetDate": null,
          "asStated": "expand capacity at the Company's \"Independence\" magnet facility ... to a projected 3,000 tons of magnets annually",
          "statedBy": "recipient",
          "sourceId": "src-dod-mp-transaction-agreement-2025",
          "note": "A projection in the company's filing; a reasonable-best-efforts undertaking, not a government target."
        }
      ],
      "relationships": [],
      "evidence": [
        {
          "sourceId": "src-dod-mp-transaction-agreement-2025",
          "supports": [
            "instrument",
            "value_role",
            "capital_source",
            "amount",
            "recipient",
            "project",
            "stages",
            "materials",
            "status",
            "outcomes"
          ],
          "evidence": "explicit",
          "locator": "Item 1.01, Transaction Agreement",
          "note": null
        }
      ],
      "notes": "The recipient's own contribution, recorded so it is never counted as public support. The Transaction Agreement states that up to $600 million of existing cash supports the 10X Facility, Samarium Project and Facility Improvements, with no allocation among those uses. associatedProjectIds records those non-allocative links; the amount is not attributed to any project stack."
    }
  ],
  "designations": [],
  "nativeMilestones": [],
  "policyContexts": [
    {
      "id": "evt-us-dod-mp-2025",
      "relationship": "finance_or_designation_parent",
      "jurisdiction": "us",
      "issuingBody": "Department of Defense",
      "titleEn": "DoD–MP Materials public-private partnership for rare earth magnet supply",
      "titleOriginal": "DoD–MP Materials public-private partnership for rare earth magnet supply",
      "documentNumber": null,
      "date": "2025-07-10",
      "policyStatus": "active",
      "sourceIds": [
        "src-dod-mp-transaction-agreement-2025",
        "src-osc-mp-loan-2025",
        "src-mp-dod-2025",
        "src-fortune-dod-mp",
        "src-mp-10q-2025-q3",
        "src-mp-10k-2025",
        "src-mp-10q-2026-q2"
      ]
    }
  ],
  "coannouncedControls": [
    {
      "id": "ctl-us-dod-mp-2025-ownership-covenants",
      "eventId": "evt-us-dod-mp-2025",
      "relationship": "announcement_sibling_not_project_impact",
      "clause": "Transaction Agreement, Specified Period covenants",
      "measureType": "contractual_ownership_covenant",
      "legalBasisAsStated": null,
      "productScopeAsStated": "Without DoD's consent the Company may not consummate a Fundamental Event (a sale of 15% or more of its voting stock, or of material equity or assets of the Project Company) other than to persons from permitted jurisdictions, sell equity or material assets of the Project Company, sell assets or products DoD identifies as a national-security priority, knowingly issue more than 14.9% of its common stock to persons from non-permitted foreign jurisdictions, or consummate a CFIUS-jurisdiction Fundamental Event without CFIUS clearance; it will not nominate non-U.S. citizens to its Board.",
      "statusHistory": [
        {
          "status": "in_force",
          "date": "2025-07-09",
          "sourceId": "src-dod-mp-transaction-agreement-2025",
          "note": "The Transaction Documents were executed on the Effective Date. The covenants run for the Specified Period, while DoD holds more than 75% of its securities, the Offtake Agreement or PPA remains in place, or the Samarium loan is outstanding.",
          "until": null
        }
      ],
      "evidence": [
        {
          "sourceId": "src-dod-mp-transaction-agreement-2025",
          "supports": [
            "measure_type",
            "direction",
            "clause",
            "targets",
            "materials",
            "product_scope",
            "status"
          ],
          "evidence": "explicit",
          "locator": "Item 1.01, Transaction Agreement",
          "note": null
        }
      ]
    },
    {
      "id": "ctl-us-dod-mp-2025-restricted-buyers",
      "eventId": "evt-us-dod-mp-2025",
      "relationship": "announcement_sibling_not_project_impact",
      "clause": "PPA and Offtake Agreement, Restricted Buyers",
      "measureType": "end_use_restriction",
      "legalBasisAsStated": null,
      "productScopeAsStated": "NdPr products and magnets from the 10X Facility: \"subject to a prohibition on sales to certain Restricted Buyers\"",
      "statusHistory": [
        {
          "status": "in_force",
          "date": "2025-07-09",
          "sourceId": "src-dod-mp-transaction-agreement-2025",
          "note": null,
          "until": null
        }
      ],
      "evidence": [
        {
          "sourceId": "src-dod-mp-transaction-agreement-2025",
          "supports": [
            "measure_type",
            "direction",
            "clause",
            "targets",
            "materials",
            "product_scope",
            "status"
          ],
          "evidence": "explicit",
          "locator": "Item 1.01, Price Protection Agreement and Offtake Agreement",
          "note": null
        }
      ]
    }
  ],
  "financePackageReferences": [],
  "unknowns": [
    "No project-native source-reviewed industrial milestone is published. Attributed activity in financing histories remains a separate evidence class; no exact milestone date or facility-wide conclusion is inferred.",
    "Historical amount review is incomplete. Current amounts cannot be read as a time series of earlier commitments.",
    "Shared financing is not allocated among the named projects and is excluded from this project's stack and backers.",
    "Structural links and shared materials do not demonstrate that a government measure caused an industrial outcome."
  ],
  "sources": [
    {
      "id": "src-dod-mp-transaction-agreement-2025",
      "title": "MP Materials Corp., Form 8-K (Transaction Agreement with the Department of Defense)",
      "publisher": "MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1801368/000119312525157310/d43796d8k.htm",
      "language": "en",
      "sourceType": "other",
      "confidence": "primary",
      "publishedOn": "2025-07-10",
      "accessedOn": "2026-10-03"
    },
    {
      "id": "src-fortune-dod-mp",
      "title": "Rare earths magnets: MP Materials stock surge, landmark deals",
      "publisher": "Fortune",
      "url": "https://fortune.com/2025/08/12/rare-earths-magnets-mp-materials-stock-surge-landmark-deals-trump-apple/",
      "language": "en",
      "sourceType": "news",
      "confidence": "secondary",
      "publishedOn": "2025-08-12",
      "accessedOn": "2026-06-13"
    },
    {
      "id": "src-mp-10k-2025",
      "title": "MP Materials Corp. Form 10-K for the fiscal year ended December 31, 2025",
      "publisher": "MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1801368/000180136826000008/mp-20251231.htm",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2026-02-26",
      "accessedOn": "2026-09-23"
    },
    {
      "id": "src-mp-10q-2025-q3",
      "title": "MP Materials Corp. Form 10-Q for the quarterly period ended September 30, 2025",
      "publisher": "MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1801368/000180136825000054/mp-20250930.htm",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2025-11-07",
      "accessedOn": "2026-10-03"
    },
    {
      "id": "src-mp-10q-2026-q2",
      "title": "MP Materials Corp. Form 10-Q for the quarterly period ended June 30, 2026",
      "publisher": "MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1801368/000180136826000048/mp-20260630.htm",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2026-08-07",
      "accessedOn": "2026-10-03"
    },
    {
      "id": "src-mp-dod-2025",
      "title": "MP Materials announces transformational public-private partnership with the Department of Defense",
      "publisher": "MP Materials",
      "url": "https://mpmaterials.com/news/mp-materials-announces-transformational-public-private-partnership-with-the-department-of-defense-to-accelerate-u-s-rare-earth-magnet-independence/",
      "language": "en",
      "sourceType": "other",
      "confidence": "primary",
      "publishedOn": "2025-07-10",
      "accessedOn": "2026-06-13"
    },
    {
      "id": "src-osc-mp-loan-2025",
      "title": "Office of Strategic Capital Announces First Loan Through DoD Agreement With MP Materials to Secure Critical Materials Supply Chain",
      "publisher": "U.S. Department of Defense, Office of Strategic Capital",
      "url": "https://www.war.gov/News/Releases/Release/Article/4270722/office-of-strategic-capital-announces-first-loan-through-dod-agreement-with-mp/",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2025-08-10",
      "accessedOn": "2026-09-23"
    }
  ],
  "limitations": [
    "Policy contexts here parent existing finance or designation records; a shared material or date never creates a causal edge.",
    "Coannounced controls are announcement siblings only, not project-specific restrictions or effects.",
    "Direct project attribution and nonallocative association are different. No individual monetary allocation, financial sum or payment conclusion is authorized.",
    "Financing statuses describe the current corpus revision. Legacy implementation observations require scoped review and are not project-native milestones.",
    "A milestone's event/target date, publication/access horizon and reviewer date are separate. A planned target is not automatically occurred.",
    "An absent reviewed milestone means no approved entry in SMPT, not that the facility is inactive or failed.",
    "Amounts retain current source-stated terms, original currency and exact decimal strings. This packet computes no historical financial totals or project-wide monetary allocation.",
    "Published source review does not establish independent on-site verification. Source, financial-status, occurrence, target and review dates remain distinct."
  ]
}