Amanda Lacaze, who led the revival of the Mountain Pass rare earths operation in the U.S., is retiring after successfully expanding domestic production capacity and reducing reliance on China. Her departure comes at a critical juncture as global demand for rare earth elements surges amid clean energy and defense sector growth.
- MP Materials increased rare earth oxide production capacity to over 20,000 metric tons annually under Lacaze’s leadership
- The company received $145 million in U.S. government funding for domestic processing and refining
- China controls over 60% of global rare earth production and nearly 90% of refining capacity
- MP now supplies roughly one-third of U.S. rare earth needs, reducing reliance on imports
- MP stock (MP) rose over 150% since 2020 amid growing strategic importance
- A new processing facility in Texas is under development to further expand domestic refining capacity
Amanda Lacaze has stepped down as CEO of MP Materials Corp., the U.S.-based operator of the Mountain Pass rare earths mine in California, concluding a transformative decade in the strategic materials sector. Under her leadership, the company increased annual rare earth oxide production capacity to over 20,000 metric tons, a key milestone in building a viable non-China supply chain. Lacaze played a central role in securing U.S. government contracts and incentives, including a $145 million Department of Defense grant, to support domestic processing and refining capabilities. Her exit follows a period of rapid expansion and heightened geopolitical scrutiny over rare earth supply chains. China currently controls over 60% of global rare earth production and nearly 90% of refining capacity, making efforts to diversify supply critical for national security and tech manufacturing. MP Materials’ output now accounts for approximately one-third of U.S. rare earth supply, with the company processing materials from the Mountain Pass mine into high-purity oxides used in magnets, electronics, and defense systems. The company’s stock, traded under the ticker MP, has risen over 150% since 2020, reflecting investor confidence in its strategic positioning. Related stocks like LRCX (Lam Research) and CRD.A (Crescent Point Energy’s rare earth-linked equity) have also seen increased volatility tied to supply chain developments. Lacaze’s retirement is expected to trigger leadership transitions and potential realignment in corporate governance as the firm prepares for next-phase growth, including a new processing facility in Texas. The move underscores the broader shift toward supply chain resilience in high-tech and clean energy sectors. As electric vehicles, wind turbines, and advanced semiconductors drive demand for rare earth elements, the role of domestic producers like MP Materials becomes increasingly pivotal. Lacaze’s legacy is defined by turning a near-dormant mine into a cornerstone of U.S. industrial autonomy.