MP Materials was previously known as Fortress Value Acquisition Corp. ("FVAC") and operated as a special purpose acquisition company ("SPAC" or blank-check company). In November 2020, FVAC consummated a merger with MP Mine Operations LLC and Secure Natural Resources LLC (collectively, "Legacy MP Materials"), whereby, among other things, Legacy MP Materials became an indirect wholly-owned subsidiary of FVAC, and FVAC changed its name from Fortress Value Acquisition Corp. to MP Materials Corp. As a result of the business combination, MP Materials began to own and operate the Mountain Pass Rare Earth Mine and Processing Facility ("Mountain Pass") in California.