MP Materials Deepens US Ties As Magnet Expansion Reshapes Growth Story
MP Materials (NYSE:MP) has secured major contracts with US clients, including the Department of Defense and Apple. The company is shifting away from exporting rare earth concentrates to China and focusing on domestic processing and magnet production. MP Materials is developing a new US magnet manufacturing facility, called "10X", and partnering on a rare earth refinery project in Saudi Arabia. MP Materials, trading at $72.24, sits at the center of a rare earths story that is increasingly...
MP Materials (NYSE:MP) has secured major contracts with US clients, including the Department of Defense and Apple. The company is shifting away from exporting rare earth concentrates to China and focusing on domestic processing and magnet production. MP Materials is developing a new US magnet manufacturing facility, called "10X", and partnering on a rare earth refinery project in Saudi Arabia. MP Materials, trading at $72.24, sits at the center of a rare earths story that is increasingly...