US government boosts rare earths industry with major deal and investment in MP Materials
TL;DR Summary
MP Materials has announced a multibillion-dollar deal with the US government, making the Defense Department its largest shareholder and securing a floor price for key rare earths to reduce dependence on China. The deal aims to boost US rare earth production, build new manufacturing facilities, and end reliance on Chinese processing, marking a significant shift in the global rare earths industry and US national security strategy.
Topics:top-news#business#defense-department#magnet-production#mp-materials#rare-earths#us-china-trade
- MP Materials seals mega rare-earths deal with US to break China's grip Reuters
- Pentagon to become largest shareholder in rare earth miner MP Materials; shares surge 50% CNBC
- US government to invest in rare earths production BBC
- MP Materials shares surge on mega deal with defense department to boost US magnet supply Yahoo Finance
- MP Materials won a big rare-earth contract with Uncle Sam, and the stock rockets MarketWatch
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
3 min
vs 3 min read
Condensed
89%
597 → 66 words
Want the full story? Read the original article
Read on Reuters