MP Materials Says Working To Ramp Up California Rare Earths Refining Equipment

Aug 3 (Reuters) - Mp Materials:

* CEO JIM LITINSKY: CHEMISTRY AND SEPARATION PROCESSES ATRAREEARTHS REFINING EQUIPMENT IN CALIFORNIA ARE 'WORKING ASEXPECTED'

* CEO: STILL HAVE LOTS OF WORK TO DO TO 'GET EACH CIRCUIT TOOPERATE RELIABLY AND RAMP UP PRODUCTION'

* EXPECTS TO START RECOGNIZING REVENUE FROM ITS REFINED RAREEARTHS IN FIRST QUARTER OF 2024

* MORE WORK TO DO TO SAY 'ALL THE BUGS ARE WORKED OUT' FROMCALIFORNIA RARE EARTHS REFINING EQUIPMENT

* FEEL COMFORTABLE THAT DESIGN OF CALIFORNIA RARE EARTHSREFININGEQUIPMENT 'IS ABLE TO PERFORM'

* 'WITH TIME, WE'LL GET TO GREATER THROUGHPUT, RELIABILITYANDPERFORMANCE YIELD' AT CALIFORNIA RARE EARTHS REFINING EQUIPMENT

* SAYS COMMISSIONING OF RARE EARTHS REFINING EQUIPMENT INCALIFORNIA IS NOT COMPLETE

* HARD TO PREDICT 2024 PRODUCTION AND SALES OF REFINED RAREEARTHSSource text for Eikon:Further company coverage:(Reporting By Ernest Scheyder)