MP Materials Corp

MP Materials: two hedge-fund guys raised $20M, bought a mine, built a $10B company

Two mildly successful hedge fund managers raised approximately $20 million to buy the Mountain Pass Mine at the Nevada-California border. They knew nothing about mining but embraced the blue-collar lifestyle on camera; the company, MP Materials Corp., is now publicly traded at roughly a $10 billion valuation.

“It's called the Mountain Pass Mine. And the story on 60 Minutes was basically these two hedge fund guys, and I think that they were like mildly successful, but they, somehow raised money and they— I think they raised $20 million and they bought a mine in, I think, at the border of Nevada and California. And now if you Google Mountain Pass Mine, I think the company name is called MP Materials Corp. It's a $10 billion publicly traded company.”