【SMM Flash: MP's Halt of Rare Earth Ore Exports to China Will Not Significantly Impact Shenghe Resources】On April 21, Shenghe Resources announced that in January 2024, MP had renewed a two-year exclusive sales agreement with its subsidiary, Shenghe Resources (Singapore) International Trading Co., Ltd., which could be extended for an additional year upon expiration. The company will continue to serve as MP's exclusive dealer in the Chinese market. Although MP has currently ceased exporting rare earth ore to China, the company has established diversified supply channels for rare earth raw materials, with Sichuan mine and monazite serving as alternative sources, which will not significantly impact the company's production and operations.