| Exhibit 23.2 | |||||||||||||||||
 | |||||||||||||||||
| SRK Consulting (U.S.), Inc. | |||||||||||||||||
| 1125 17th Street, Suite 600 | |||||||||||||||||
| Denver, CO 80202 | |||||||||||||||||
| United States | |||||||||||||||||
| T: +1 303 985 1333 | |||||||||||||||||
| F: +1 303 985 9947 | |||||||||||||||||
| denver@srk.com | |||||||||||||||||
| www.srk.com | |||||||||||||||||
| February 23, 2026 | |||||||||||||||||
| MP Materials Corp. | |||||||||||||||||
| 1700 S. Pavilion Center Drive, Suite 800 | |||||||||||||||||
| Las Vegas, Nevada 89135 | |||||||||||||||||
| Attention: | Ryan Corbett | ||||||||||||||||
| Chief Financial Officer | |||||||||||||||||
| Dear Mr. Corbett: | |||||||||||||||||
| Consent Letter – Mountain Pass Technical Report Summary | |||||||||||||||||
| In connection with the Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and any amendments thereto (collectively, the “Form 10-K”) to be filed by MP Materials Corp. (the “Company”) with the U.S. Securities and Exchange Commission (“SEC”), SRK Consulting (U.S.), Inc. (“SRK”), hereby consents to: | |||||||||||||||||
| (1) | the filing and/or incorporation by reference by the Company and use of the Technical Report Summary titled “SEC Technical Report Summary, Pre-Feasibility Study, Mountain Pass Mine, San Bernardino County, California” with an effective date of October 1, 2025, and a report date of February 16, 2026 (the “Technical Report Summary”) that was prepared in accordance with Subpart 1300 of Regulation S-K promulgated by the SEC, as an exhibit to and referenced in the Form 10-K; | ||||||||||||||||
| (2) | the use of and references to SRK’s name as a “qualified person” (as defined in Subpart 1300 of Regulation S-K promulgated by the SEC), in connection with the Form 10-K and any such Technical Report Summary; and | ||||||||||||||||
| (3) | the use of any quotation from, or summarization of, the particular section or sections of the Technical Report Summary in the Form 10-K, to the extent it was prepared by SRK, that SRK supervised its preparation of and/or that was reviewed and approved by SRK, that is included or incorporated by reference to the Form 10-K. | ||||||||||||||||
| SRK is responsible for, and this consent pertains to the following sections of the Technical Report Summary: | |||||||||||||||||
• | Portions of Sections 1, 10, 14, 18, 22, 23, 24, and 25 | ||||||||||||||||
• | Sections 2, 3, 4, 5, 6, 7, 8, 9, 11, 12, 13, 15, 17, 19, 20, 21 | ||||||||||||||||
| SRK also consents to the incorporation by reference in the Company’s registration statements on Form S-8 (No. 333-252361) and Form S-3 (Nos. 333-251239, 333-261954 and 333-285419) of the above items as included in the Form 10-K. | |||||||||||||||||