Crowell Advises MP Materials on Landmark Public-Private Partnership with Department of Defense

Washington – July 15, 2025: Crowell & Moring was honored to represent MP Materials in its landmark partnership with the U.S. Department of Defense, making DoD the company’s largest shareholder. On July 9, MP and DoD signed a multibillion-dollar package of investments and long-term commitments, providing for, among other things, construction of the company’s second domestic magnet manufacturing facility. The agreements include convertible preferred equity, warrants, loans, and price floor and offtake commitments.

MP Materials is the United States’ only fully integrated rare earth producer with capabilities spanning the entire supply chain, from mining and processing to advanced metallization and magnet manufacturing.

The Crowell team was led by partners Peter Eyre, Christian Curran, Jonathan Baker, Sharmistha Das, and Kenneth Dintzer; counsel Stephanie Crawford and Liam O’Reilly; and associate Allison Skager.

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