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UNITED STATES, JUL 10 – The Pentagon's investment aims to secure U.S. rare earth supplies amid instability in Chinese exports, boosting MP Materials' stock by 50%, analysts reported.
- MP Materials agreed on Thursday to a multibillion-dollar deal with the U.S. Department of Defense, making the DoD its largest shareholder.
- This agreement follows ongoing U.S.-China trade tensions and aims to reduce U.S. dependence on China for rare earth production and refinement.
- The deal includes a $400 million preferred stock purchase, a $150 million loan, and a contract for the DoD to buy all magnets from MP’s new 10X facility starting in 2028.
- MP’s stock surged over 50% on Thursday morning, closing at $45.23 after reaching an intraday high of $48.12, reflecting strong investor sentiment.
- This partnership and investment signal a shift toward expanding domestic rare earth production and magnet manufacturing to bolster U.S. supply chains and national security.
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Pentagon to Take $400 Million Stake in Rare Earth Miner Outside Vegas
The rare earths sector’s magnetism has been undeniable lately. Now, the US Department of Defense is set to become the largest shareholder in Las Vegas-based MP Materials, the owner and operator of the only working rare earth mine and processing facility in the country. The company announced on Thursday that, in addition to US taxpayers footing a $400 million stake and a $150 million loan, the Defense Department has agreed to purchase all of the…
Coverage Details
Total News Sources17
Leaning Left3Leaning Right1Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 38%
C 50%
13%
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