MP Materials Corp. (NYSE:MP) Q3 2023 Earnings Call Transcript

And so we are always stacking up our projects and potential organic projects and making sure they meet a pretty high return threshold.

David Deckelbaum: Thanks Ryan. I appreciate that. And I just wanted to confirm, Michael, as you guys think about targeting this expansion to 60,000 tons a year on the upstream side, is it fair to say that you don’t necessarily intend to become a concentrate producer or rare earth concentrate producer and distributor that you would be doing this with the visibility of being able to convert that material over time?

Michael Rosenthal: I think our mission will remain the same, which is to support the ex-China supply chain. And we will look at the most efficient way of achieving that, including optimizing our existing capability at Mountain Pass. But it’s certainly several years in the future and we want to be focused first on ramping up Stage 2 and developing this the Upstream 60k project.

David Deckelbaum: Thanks so much.

Jim Litinsky: Thanks David.

Operator: Thank you. That concludes our Q&A session. Thank you everyone. I would now like to turn the call over to Mr. Litinsky for final comments.

Jim Litinsky: Well, thank you everyone for joining us. I know it was a long call, but it was a lot of exciting developments with MP, albeit we are in a tough environment in the global economy and certainly in our sector, but we feel very excited about our business, and we will keep executing. And so everyone stay safe, and we will talk to you all next quarter. Thanks.

Operator: That concludes today’s conference call. Thank you for your participation. You may now disconnect your lines.