Non-China rare-earth refining is gated by price risk, not technique: MP realised $51/kg for NdPr in 2024 and needed a $110/kg ten-year floor from the DoD, so this node's funding instrument is a price floor, which needs a buyer of last resort.

Evidence 1 passage

• groundsSource document

  Companies such as MP have been struggling to compete in the current rare-earth price environment — to wit the NdPr decade-long price guarantee of $110/kg in the deal is over twice MP’s realized prices of $51/kg in 2024.

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