MP Materials Corp. (MP) Presents at Canaccord Genuity’s 45th Annual Growth Conference Transcript

MP Materials Corp. (NYSE:MP) Canaccord Genuity’s 45th Annual Growth Conference August 12, 2025 10:00 AM ET

Company Participants

Ryan S. Corbett – Chief Financial Officer

Conference Call Participants

George Gianarikas – Canaccord Genuity Corp., Research Division

George Gianarikas

Hello, everyone. I’m George Gianarikas, one of Canaccord Genuity’s sustainability analysts. Thank you for coming to our 45th Annual Growth Conference. And I think we’re maybe — or the market is most excited about having MP with us today. Thank you so much for joining Ryan Corbett, CFO of the company; Martin Sheehan from Investor Relations.

You’ve been up to a lot recently, been very, very busy. Maybe very quickly just to focus on the 3 stages of the business, Stages I, Stages II, Stages III. We won’t get into the deals that you’ve announced maybe until later, but — the Stage I of your business is getting to 40,000 tons a year, which you’ve done — Upstream 60K eventually, getting to 40,000, eventually to 60,000. Maybe walk us through — Sorry, I was having a technical issue.

Ryan S. Corbett

You got to turn it on.

Question-and-Answer Session

George Gianarikas

Good. 40 to 60. So can you just talk us through the path in getting to 60 level of confidence time frame, et cetera?

Ryan S. Corbett

Yes, no problem. Thanks for having us. Happy to be here.

Right now, we’re actually producing our LTM is just north of 50. So we’ve made some pretty big strides there. I think in the quarter we just reported last week, we had an outstanding quarter north of 13,000 tons of production. The team has done a really unbelievable job focusing on some of the lower capital intensity, more optimization pieces of Upstream 60K in the last several quarters. And so we’ve been able to make a lot of progress there.