<ul data-eligibleForWebStory="false"><li>MP Materials Corporation surged as much as 60% on news that the Defense Department is acquiring a stake in the only rare earth mine in the US, located in Mountain Pass, California.</li><li>The Defense Department has agreed to purchase $400 million of the company's preferred shares, with the potential for conversion to common stock, making it MP's largest shareholder.</li><li>The Pentagon's investment represents a roughly 15% stake in MP Materials, showing a strategic shift towards strengthening the domestic critical mineral supply chain and reducing reliance on Chinese imports.</li><li>This move signifies a broader effort by the US government to secure essential resources and decrease dependency on foreign nations for key materials used in electronics, defense systems, and robotics.</li></ul>

The Pentagon is taking a big stake in a rare earth mining company, sending the stock up 60%

Discover more