Catalyst is coming. Here’s Why Smart Investors Are Buying MP Stuff Ahead of the SpaceX IPO.
MP Materials (NYSE: MP) it’s a company you’ve probably never heard of, but whose main product is probably embedded in the devices you use every day.
Operationally, MP currently controls the only major rare earth mine in the US — the Mountain Pass mine in California. Rare earth elements such as neodymium and praseodymium pass through the mine to its processing facilities, where they are processed into materials used to make high-performance magnets. These magnets, are used in electric vehicles, smartphones, laptops, clean energy technology, missiles and satellites, among other applications.
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Last year, MP emerged as the US rare world champions. In July 2025, it was the beneficiary of a $400 million package from the Department of Defense, which, in the same agreement, also guaranteed a minimum price of $110 per kilogram of neodymium and praseodymium.
However, recently, MP has fallen behind, its 19% gain in 2026 far short of the 223% it had in 2025. However with the SpaceX IPO scheduled for June 12, MP Materials could get a big long-term boost. Here is the reason.
Efficient magnets are important in aerospace technology
SpaceX builds spacecraft, including rockets and satellites. It has more than 10,000 Starlink satellites in orbit, making up about two-thirds of all satellites orbiting the Earth. That is an immeasurable amount of heavenly things, but the company doesn’t think so. In January 2026, it applied to launch one million satellites to help power artificial intelligence (AI).
Many satellites use rare earth minerals, such as neodymium, dysprosium, and samarium. Indeed, rare earth magnets are often used for deployment and to help stabilize and maintain the correct orientation once out of orbit.
Rare metals make up only a small fraction of the metallic satellite composition, yet they are also among the rarest. As the name suggests, rare earth elements are rarely found in effective concentrations in the earth’s crust; where they can be extracted economically, they are probably under Chinese control. The US is aware of this risk, which is why MP Materials has become so important in its supply chain.
To be sure, MP did not enter into a deal with SpaceX. But it entered into a $500 million partnership with it an apple and agreement General Motors providing permanent magnets to both.
