Strategic Materials
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USUnited States

10X Facility

a 120-acre site in Northlake, Texas

prj-us-mp-10x-facility

Download investigation JSONSources & citationsCorpus revised 3 Nov 2026

What does the record establish?

The July 2025 filing and release gave the site as "a soon-to-be-chosen location"; MP's 10-Q for the quarter to 30 June 2026 places it in Northlake, Texas.

Financial standing

2 directly linked instruments. Recorded financial states: Lapsed; Contracted. A commitment, a payment and a project cost remain separate.

Inspect instruments and terms

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 · JPMorgan Chase Funding Inc. and Goldman Sachs Bank USAcommitted secured financing ... in an amount equal to, in the aggregate, at least $1,000,000,000 (the "10X Facility Funding") · Lapsed · Private financing
Recipient
MP Materials Corp.MP Materials Corp.
Legal authority as stated
Not stated in this financial record

  1. · Decided

    A debt commitment letter, "subject to customary terms and conditions"; the filing does not describe an executed loan agreement.

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

  2. · Lapsed

    "The Commitment Letter expired undrawn on its own terms on August 26, 2025, as it was reduced on a dollar-for-dollar basis upon the Offering ... and the Company's execution of the Revolving Credit Facility."

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

Source-stated terms

Private capital raised alongside the DoD package. Never part of a public-support figure. The filing says the $1,000,000,000 may be reduced dollar for dollar for certain equity or debt raises and certain unrestricted cash. The letter expired undrawn on 26 August 2025 (Form 10-Q for Q3 2025), after the company's public offering (net proceeds of $724.2 million, per its Form 10-K for 2025) and a revolving credit facility reduced it to nothing. Lifecycle review on 3 October 2026: the Q3 2025 filing still supports the letter's undrawn expiry; the Q2 2026 filing and 6 August results report construction at the linked 10X project. The subsequent equity offering and revolving credit facility are separate financing, not disbursements or repayment under this historical commitment.

Full financial instrument, conditions and field-level evidence
Offtake · US Department of DefenseAmount not stated · Contracted · Commitment
Provider organizations
U.S. Department of Defense
Recipient
MP 10X Development, LLC (project company established to develop the 10X Facility)MP 10X Development, LLC
Legal authority as stated
Not stated in this financial record

  1. · Contracted

    Offtake Agreement dated 9 July 2025 (Exhibit 10.5).

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

Source-stated terms

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.

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.

1 row has ended (withdrawn or lapsed) and no longer backs this project; it stays listed with its status.

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.

No amount stated on the row

US9 Jul 2025

MP 10X Development, LLC (project company established to develop the 10X Facility)

No amount stated

Second domestic magnet manufacturing facility

CommitmentOfftakePublicContractedComponent manufacturing

Private financing

1 row · listed, not summed

Commercial capital raised alongside public money. Listed, never public support.

—no gov.26 Aug 2025

MP Materials Corp.

at leastUSD1 billion

10X Facility

Private financingLoanPrivateLapsed

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. 56Component manufacturingSuspendedCNExport licensing · Item 1(2) (1E902.b)MOFCOM Announcement No. 62 (2025)Component manufacturingSuspendedCNExport licensing · Item 1(1) (1E902.a)MOFCOM Announcement No. 62 (2025)Component manufacturingSuspendedCNExport licensing · Items 1–7MOFCOM & GACC Announcement [2025] No. 18Component manufacturingIn force

Record

Sponsors
MP 10X Development, LLCProject companyMP Materials Corp.Company
Location
a 120-acre site in Northlake, TexasUS
Stages
Component manufacturing
Materials
Rare-earth permanent magnets (NdFeB)Tracked materials only
Programmes
None recorded
Latest financing-row activity report
ConstructionDate not statedMP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)

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.
  • Some directly linked instruments have no stated amount. A missing value is not zero.
  • 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 · Supply-chain stages · Materials
    Evidence level
    Explicit
    Location in document
    Item 1.01, overview and Transaction Agreement paragraphs
    Qualification
    "the Company’s construction of its second domestic magnet manufacturing facility (the “10X Facility”)"; built "to produce sintered Neodymium-iron boron (NdFeB) permanent magnet blocks and / or other finished magnets".
    View source dossier →

  2. 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
    Location
    Evidence level
    Explicit
    Location in document
    Note 1; note on property, plant and equipment
    Qualification
    The site was bought in April 2026; the July 2025 filing gave only "a soon-to-be-chosen location".
    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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