MP Materials, Department of Defense and earth magnets
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Company’s stock rallies on U.S. support to build the 10X Facility as its second domestic magnet-manufacturing plant
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InvestorsHub on MSNMP Materials Stock Soars on Major Defense Department PartnershipMP Materials (NYSE:MP) saw its shares leap by as much as 32% in premarket trading after announcing a landmark agreement with the U.S. Department of Defense aimed at strengthening America’s rare earth supply chain and expanding domestic magnet production.
MP Materials has announced plans to expand rare earth mining and processing operations as Washington seeks to end its dependence on Chinese supplies.
Fort Worth company owning the only rare earth magnet manufacturing plant in the U.S. is being courted to the tune of millions of dollars.
Apple has signed a $500 million deal with MP Materials to secure a long-term supply of rare earth magnets, a move aimed at reducing reliance on China and reinforcing its U.S. supply chain. The agreement marks a
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Cryptopolitan on MSNMP Materials surges to 52-week high on securing $500m Apple contractApple and MP Materials unveiled a $500 million deal to bolster the iPhone maker’s domestic supply chain for rare‑earth magnets.
MP Materials currently operates the world’s second-largest rare earth mine in Mountain Pass, California, where it extracts, refines, and separates rare earth materials. The Company is commissioning a magnetics facility in Texas, known as Independence , which anchors its downstream capabilities.
MP Materials' stock surged 50% after a transformative Department of Defense deal. Click here to find out why I rate MP stock as a hold at current prices.