MP 10X Development, LLC (project company established to develop the 10X Facility)
Second domestic magnet manufacturing facility
fin-us-dod-mp-2025-magnet-offtake
Reading this record
What the evidence says — and does not say
- What kind of figure?
- CommitmentMoney, or a money-like promise, committed to a named recipient or project. The only role ever summed.
- What has happened legally?
- ContractedA binding agreement has been executed. Not a payment, and not necessarily an obligation of funds: an agreement can leave that to a later step.
- Has money been paid?
- Follow the payment evidenceThis status does not itself establish a cash payment. In particular, a signed contract does not necessarily establish an obligation of funds.
- What does it link to?
- Project attributionOne registered project is linked directly to this row. The link alone does not prove the amount was paid or that the project advanced.
This is a commitment role, but the financial status still determines legal standing and payment. Funding and verified industrial outcomes remain separate. A financial record alone never independently verifies construction, commissioning or production. Read SMPT's counting and evidence rules.
Amount
Record
- Provider
- US Department of DefenseU.S. Department of DefenseGovernment body
- Legal authority
- Not stated
- Programme
- None named
- Recipient
- MP 10X Development, LLC (project company established to develop the 10X Facility)MP 10X Development, LLCProject company
- Project
- Second domestic magnet manufacturing facility10X Facility capital stack →
- Facility
- 10X Facility
- Location
- Not stated
- Stages
- Component manufacturingSingle stage
- Materials
- Rare-earth permanent magnets (NdFeB)Tracked materials only
Status
Financial and physical progress are separate histories. The last entry is current.
Financial
- Contractedcurrent
Offtake Agreement dated 9 July 2025 (Exhibit 10.5).
MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)
Implementation
- Announced
The company "will construct" the facility "at a soon-to-be-chosen location".
- Constructioncurrent
"In April 2026, the Company purchased a 120-acre site in Northlake, Texas, for approximately $80 million where construction of the 10X Facility is currently underway." Reported for the quarter to 30 June 2026; the start date of construction is not stated.
MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)
Terms
Operative terms as the source words them.
| Term | Figure | As stated |
|---|---|---|
| Offtake share | 100 % of magnet production | “the Project Company will sell and deliver to the Department of Defense the entire amount of magnets produced at the 10X Facility”The Project Company may syndicate up to 100% of production to commercial customers at DoD's request, or at its own request with DoD's consent.MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) |
| Duration | 10 years | “a term of ten years following the Commercial Operation Date”MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) |
| Other term | at least USD 140,000,000 EBITDA per year | “the 10X Facility will generate at least $140,000,000 of EBITDA on an annual basis after reaching full production capacity, adjusted annually ... for inflation at a rate equal to 2%”The Threshold EBITDA Amount.MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) |
| Other term | 25 % of the Threshold EBITDA Amount per quarter | “quarterly "magnet facilitation payments" ... equal to 25% of the applicable Threshold EBITDA Amount each quarter”MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) |
| Annual reimbursement cap | up to USD 30,000,000 per calendar year | “payments in respect of certain incremental costs ... capped at $30,000,000 in any calendar year”MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) |
Stated outcomes
Who says it matters: a company target is not a government commitment.
approximately 10,000 metric tons
“MP Materials' total U.S. rare earth magnet manufacturing capacity will reach an estimated 10,000 metric tons”
Company-wide magnet capacity once the facility is complete, not the 10X Facility alone.
Notes
No amount is stated for the offtake itself: DoD buys at the Project Company's production cost and makes facilitation payments. The outcomes are the company's expectations. Lifecycle review on 3 October 2026 retains contracted status and construction with an unknown commencement date. The Q2 2026 filing recognizes pre-production reimbursable costs under the offtake but does not separately quantify cumulative cash paid under it; no disbursement status or total commitment amount is inferred from deferred balances or receivables. Price Protection Agreement receipts, Independence production and Apple prepayments concern separate instruments or facilities. Commissioning in 2028 remains a target.
Evidence
Every populated field names the source that states it, how directly, and where.
MP Materials Corp., Form 8-K (Transaction Agreement with the Department of Defense)
MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)
- Fields supported
- Instrument · Value role · Capital source · Provider · Recipient · Project · Facility · Supply-chain stages · Materials · Status · Terms
- Evidence level
- Explicit
- Location in document
- Item 1.01, Offtake Agreement
MP Materials announces transformational public-private partnership with the Department of Defense
MP Materials
- Fields supported
- Status · Outcomes
- Evidence level
- Explicit
- Location in document
- Opening paragraphs
MP Materials Corp. Form 10-Q for the quarterly period ended June 30, 2026
MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)
- Fields supported
- Status
- Evidence level
- Explicit
- Location in document
- Note 1; Note 6, Property, Plant and Equipment; Note 9, Operating Leases; Note 13, Other Current Assets; MD&A, DoW Offtake Agreement and Magnetics segment
- Qualification
- Construction is underway and the filing continues to describe the executed DoW offtake. The $6.0 million contract liability and $3.892 million reimbursable-cost receivable are accounting balances, not a separately disclosed cumulative cash-disbursement amount for this offtake.
MP Materials Reports Second Quarter 2026 Results
MP Materials Corp.
- Fields supported
- Status
- Evidence level
- Explicit
- Location in document
- CEO comments in second-quarter 2026 results
- Qualification
- Reports accelerated construction at 10X. This corroborates the project's construction status; it does not date construction commencement or establish a financing draw.
| Source | Fields supported | Evidence level | Location |
|---|---|---|---|
| MP Materials Corp., Form 8-K (Transaction Agreement with the Department of Defense) MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) · Source dossier |
| Explicit | Item 1.01, Offtake Agreement |
| MP Materials announces transformational public-private partnership with the Department of Defense MP Materials · Source dossier |
| Explicit | Opening paragraphs |
| MP Materials Corp. Form 10-Q for the quarterly period ended June 30, 2026 MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) · Source dossier |
| Explicit Construction is underway and the filing continues to describe the executed DoW offtake. The $6.0 million contract liability and $3.892 million reimbursable-cost receivable are accounting balances, not a separately disclosed cumulative cash-disbursement amount for this offtake. | Note 1; Note 6, Property, Plant and Equipment; Note 9, Operating Leases; Note 13, Other Current Assets; MD&A, DoW Offtake Agreement and Magnetics segment |
| MP Materials Reports Second Quarter 2026 Results MP Materials Corp. · Source dossier |
| Explicit Reports accelerated construction at 10X. This corroborates the project's construction status; it does not date construction commencement or establish a financing draw. | CEO comments in second-quarter 2026 results |