MP Materials SPAC Presentation Deck
A RICH RARE EARTH HISTORY
MP MATERIALS ACQUIRED A HISTORICALLY HIGH QUALITY ASSET AFTER A PERIOD OF
CHALLENGED EXECUTION BUT SUBSTANTIAL CAPITAL INVESTMENT
Molybdenum Corporation of
America ("Molycorp"
begins production at
Mountain Pass after
purchasing the recently
discovered Sulphide Queen
carbonatite and Birthday
claims
1952
MPMATERIALS
UNOCAL acquires
Molycorp
1960s-
80s
Mountain Pass is the
world's dominant
source of rare earths
Nabec
1997 2002
Chevron acquires
UNOCAL
UNCCAL suspends
mining
2005
Molycorp completes PO
and launches Project
Phoenix to rebuild
processing facilities to
focus on the Cerium
supply chain
2008
Chevron sells
Mountain Pass to
an investor group
{"new Molycorp")
don Company and menyepor
2010
Mountain Pass is
placed into
cold-idle status
Production is
restarted at
Mountain Pass
11
2015 Q4 2015 Q3 2017 Q4 2017
10
Molycarp files for
MPMaterials
bankruptcy after technical acquires Mountain
Pass
challenges with novel
process, execution issues
and excessive leverage
MP Materials hits run-
rate production
representing 15% of
global rare earth market
2018
12
First sales of rare
earth concentrate
produced at
Mountain Pass
Commence Stage III
Downstream
Expansion
13
2019 2020
15
2025E
Stage Il design and
execution in process
ASSET
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