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U.S. Investments in Rare Earths
The Pentagon has invested approximately $400 million in MP Materials (NYSE: MP), making it the largest shareholder. This investment includes a commitment to purchase all magnets produced from MP’s new 10X facility for a decade. Additionally, Apple (NASDAQ: AAPL) has announced a $500 million partnership with MP, set to provide American-made magnets from 2027.
MP Materials operates the Mountain Pass mine in California, one of the few sizable rare earth mines in the U.S., and its Independent magnet facility in Fort Worth, Texas, where it aims to streamline the production process. However, MP recently reported a loss and zero revenue from concentrate sales in Q3 after halting shipments to China.
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