Strategic Materials
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USUnited StatesUS Department of Defense

MP Materials Corp.

CommitmentPrice floorPublicContracted

fin-us-dod-mp-2025-price-floor

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 attributionNo direct registered project association is coded for this row. A project or facility may still be named in source text; absence of a link is not proof of inactivity.

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

No amount is stated for this instrument. Its terms below are what the source commits to; no value is estimated.

Record

Provider
US Department of DefenseU.S. Department of DefenseGovernment body
Legal authority
Not stated
Programme
None named
Recipient
MP Materials Corp.MP Materials Corp.Company
Project
Not stated
Facility
Not stated
Location
Not stated
Stages
Not statedNot stated
Materials
NeodymiumPraseodymiumTracked materials only

Status

Financial and physical progress are separate histories. The last entry is current.

Financial

  1. Contractedcurrent

    NdPr price floor protection agreement (PPA) entered into on the Effective Date.

    MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)

Implementation

No source states the physical status of a project for this row.

Terms

Operative terms as the source words them.

TermFigureAs stated
Price floorUSD 110 per kg of NdPr“a quarterly payment per kilogram (kg) of Neodymium-Praseodymium ("NdPr") produced by the Company equal to the shortfall between $110 per kg and the Benchmark Quarterly Average Volume Weighted Price”MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)
Duration10 years“will continue for 10 years”From the first day of the first full calendar quarter following closing.MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)
Other term30 % of the NdPr sales price above $110 per kg“the Department of Defense will be entitled to receive 30% of the NdPr sales price which exceeds $110 per kg”Applies after the 10X Facility reaches full production capacity.MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)

Notes

Applies to all of the Company's products that contain NdPr (concentrate, oxide and metal). No total value is stated: the cost depends on future prices, and none is estimated here. The agreement commenced on 1 October 2025. MP's 10-Q for the quarter to 30 June 2026 reports price protection agreement income of $59.9 million for the first half of 2026 (its right to receive cash from the DoW for the gap between $110 per kilogram of NdPr and the benchmark price) and a PPA income receivable of $17.6 million at 30 June 2026 ($51.0 million at 31 December 2025). It does not state cash received, so no payment status is recorded; these are the company's accounting figures, not a government statement.

Evidence

Every populated field names the source that states it, how directly, and where.

  1. 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 · Materials · Status · Terms
    Evidence level
    Explicit
    Location in document
    Item 1.01, Price Protection Agreement
    View source dossier →