Strategic Materials
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USUnited States

Mountain Pass heavy rare earth separation expansion (Samarium Project)

the Mountain Pass Rare Earth Mine and Processing Facility located near Mountain Pass, San Bernardino County, California

prj-us-mountain-pass-samarium

Download investigation JSONSources & citationsCorpus revised 3 Nov 2026

What does the record establish?

Samarium is a rare earth element; it has no material record of its own and is covered by the rare-earth-elements record.

Financial standing

1 directly linked instruments. Recorded financial states: Disbursed. A commitment, a payment and a project cost remain separate.

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Legal and policy context

1 parent policy records; 0 project designations. Designation confers standing, not finance. Material and stage overlaps with controls do not establish a restriction on this project.

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Industrial evidence

No source-reviewed project milestone is published in this corpus. Financing records may still contain attributed activity reports; this gap does not establish inactivity.

See evidence gaps

Financial evidence and chronology

Each instrument keeps its own financial history. These dates describe financial states, not construction or production. Amounts are the current recorded terms, not historical amounts at every date below.

Loan · US Department of Defense, Office of Strategic Capitala loan to the Company in the aggregate principal amount of $150,000,000 (the "Samarium Project Loan") · Disbursed · Commitment
Provider organizations
Office of Strategic Capital (OSC)
Recipient
MP Materials Corp.MP Materials Corp.
Legal authority as stated
One Big Beautiful Bill Act (source of OSC's credit subsidy funding)

  1. · Decided

    The Transaction Agreement provides that DoD will extend the loan within 30 days of the Effective Date, subject to agreed extensions.

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

  2. Exact status date not stated · Contracted

    OSC announced on 10 August 2025 "the recent execution of its first direct loan"; the execution date is not stated.

    U.S. Department of Defense, Office of Strategic Capital

  3. Exact status date not stated · Disbursed

    "in August 2025, we issued a $150.0 million unsecured promissory note to the DoW with a 12-year term, maturing on August 1, 2037"; the filing reports funds received from the DoW Transactions. The day of funding is not stated.

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

Source-stated terms

OSC describes this as its first direct loan. Unsecured promissory note; the company may repay at any time.

Full financial instrument, conditions and field-level evidence

Capital stack

One layer per value role. Only committed public money, and joint-vehicle money apart from it, is summed, per currency; everything else is listed. There is no total across layers.

Public commitments

1 row · summed per currency

Committed to a recipient by a government or public enterprise, at the status each row states. A contracted, partially disbursed or disbursed row is binding because an agreement is executed; payment is tracked separately by status. A contracted row need not mean funds are obligated or paid, and a partially disbursed row is not fully paid. Summed per currency and per instrument, never across either; a part is never added to its package.

USD

Loan1 row

Binding

Stated exactly
150 million

1 counted

US9 Jul 2025

MP Materials Corp.

USD150 million

Samarium Project: expansion of heavy rare earth separation, including separation of samarium oxide

CommitmentLoanPublicDisbursedSeparation

Source-reviewed industrial observations

No source-reviewed project milestone is published for this undertaking. Any financing-row activity reports below remain attributed observations, not independently reviewed project milestones. Missing evidence does not establish inactivity.

Shared / unallocated financing

These rows explicitly support this project and at least one other project, but the source does not allocate the stated amount among them. They are shown for provenance and excluded from this project's capital stack, backers and co-investment.

10X Facility; Samarium Project; Mountain Pass Facility Improvements (HREE refining and hydrochloric acid facilities); Independence Facility capacity expansionThe Company has also agreed to use up to $600,000,000 of its existing cash to fund the above projects.shared · unallocated

Control clauses on the same materials and stages

Clauses whose covered items share a material and a supply-chain stage with this project, with their legal status on 3 Nov 2026. An overlap of items, not a finding that the project is affected.

CNExport licensing · Item 1 (2B902)MOFCOM & GACC Announcement [2025] No. 56SeparationSuspendedCNExport licensing · Item 2 (1C914)MOFCOM & GACC Announcement [2025] No. 56SeparationSuspendedCNExport licensing · Items 1–5 (1C909–1C913)MOFCOM & GACC Announcement [2025] No. 57SeparationSuspendedCNExport licensing · Item 1(2) (1E902.b)MOFCOM Announcement No. 62 (2025)SeparationSuspendedCNExport licensing · Item 1(1) (1E902.a)MOFCOM Announcement No. 62 (2025)SeparationSuspendedCNExport licensing · Items 1–7MOFCOM & GACC Announcement [2025] No. 18SeparationIn forceCNExtraterritorial licensing · Item 1(2)MOFCOM Announcement No. 61 (2025)SeparationSuspendedCNDomestic production control · Art. 13国令第785号 (State Council Decree No. 785)SeparationIn forceCNDomestic production control · Art. 10国令第785号 (State Council Decree No. 785)SeparationIn force

Record

Sponsors
MP Materials Corp.Company
Location
the Mountain Pass Rare Earth Mine and Processing Facility located near Mountain Pass, San Bernardino County, CaliforniaUS
Stages
Separation
Materials
Rare earth elements (grouped)Tracked materials only
Programmes
Office of Strategic Capital critical-minerals lending (One Big Beautiful Bill Act)
Latest financing-row activity report
No physical status recorded

What remains unknown

Gaps describe the available SMPT record. They do not establish that an activity did not occur.

  • 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.

Evidence

Every project fact names the source that states it.

  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
    Name · Sponsors · Location · Supply-chain stages · Materials
    Evidence level
    Explicit
    Location in document
    Item 1.01, Transaction Agreement paragraphs
    Qualification
    "expand heavy rare earth elements (“HREE”) refining capacity at the Mountain Pass Rare Earth Mine and Processing Facility ... which ... will include separation of samarium oxide"
    View source dossier →

For citations, open a parent policy record for BibTeX, RIS and CSL formats. Cite original documents for claims about government action.

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