MP Materials, Apple and rare
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MP Materials announces a public-private partnership with the US Department of Defense to accelerate the build-out of an end-to-end US rare earth magnet supply chain.
The long-term bull case for the stock rests on the idea that U.S. administrations will aim for rare earth material independence from China, and MP Materials, a company that operates the only rare earth and processing facility, at Mountain Pass in California, , will be a key part of the process.
However, it’s not just the government rushing to ensure rare earth supply. Apple (NASDAQ: AAPL) has one-upped the Pentagon by announcing a $500 million agreement with MP Materials to secure recycled rare earth magnets.
MP Materials Corp (NYSE:MP) shares are rising Tuesday after the company signed a long-term agreement to supply Apple Inc (NASDAQ:AAPL).
MP Materials Corp. (NYSE: MP) ("MP Materials" or the "Company") today announced it has entered into a transformational public-private partnership with the United States Department of Defense ("DoD") to dramatically accelerate the build-out of an end-to-end U.
Shares of MP Materials soared 50% Thursday morning after the rare earths miner announced a multibillion-dollar agreement with the Department of Defense.
MP Materials Corp (NYSE: MP) shares surged on Thursday after the U.S. government announced a strategic investment to strengthen the domestic rare earth supply chain.
MP Materials (NYSE: MP) is up 50% today after an announcement that the Department of Defense is buying $400 million of preferred stock in the company. This will make the Pentagon the largest shareholder here.