Lynas talks with MP Materials

[Sparty]

The Mountain Pass REE deposit has had a long and interesting ownership history, with several companies holding the reins over the years. Here's a breakdown:

Early years (1949-1952):

Discovered by prospectors looking for uranium.
First Ownership (1952-1977):

Molybdenum Corporation of America (MCA): They acquired the claims in 1952 and started small-scale production in 1952. Later changed their name to Molycorp.

Change of hands (1977-2002):
Union Oil (1977): Acquired Molycorp, including the Mountain Pass mine.
Chevron Corporation (2005): Merged with Union Oil, inheriting the mine.
Decline and closure (2002-2008):

Environmental issues and competition from China led to the mine's closure in 2002.
Chevron continued processing previously mined ore.

Revival and current ownership (2008-present):

Molycorp Minerals LLC (2008): A privately-held company formed to revive the mine, acquired it from Chevron.

MP Materials (2010): Successor to Molycorp Minerals, took the company public in 2010.

Current ownership (as of February 2024):

51.8%: American hedge funds JHL Capital Group and QVT Financial LP
8.0%: Chinese firm Shenghe Resources Holding Co. Ltd.
18%: Publicly traded shares.

So, the Mountain Pass REE deposit has been owned by Molybdenum Corporation of America/Molycorp, Union Oil/Chevron, Molycorp Minerals LLC, and MP Materials. The current ownership is a mix of American and Chinese entities.