May 6 (Reuters) - U.S.-based rare earths miner MP Materials Corp posted a more-than eightfold jump in quarterly profit on Thursday due to rising production and prices for the metals used to make electronics.
The company, which relies on China to process rare earth oxides from its California mining complex, posted a first-quarter net income of $16.1 million, or 9 cents per share, compared to $1.9 million, or 3 cents per share, in the year-ago quarter when it was a private company.
(Reporting by Ernest Scheyder Editing by Chris Reese)
