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US rare earths producer MP Materials on Thursday reported a steeper-than-expected second-quarter loss due to falling prices for the strategic minerals and operational challenges, although executives forecast a rebound for later this year.
Excluding one-time items, MP lost 17 cents per share. By that measure, analysts expected a loss of 9 cents per share, according to IBES data from LSEG.“We had a very challenging quarter, operationally and financially,” MP CEO Jim Litinsky said in a press release.
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