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Pentagon to become largest shareholder in rare earth magnet maker MP Materials
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Pentagon to become largest shareholder in rare earth magnet maker MP Materials

eriinfo.com11 hours ago06 mins

The Defense Department will become the largest shareholder in rare earth miner MP Materials after agreeing to buy $400 million of its preferred stock, the company said Thursday. MP Materials owns the only operational rare earth mine in the U.S. at Mountain Pass, California, about 60 miles outside Las Vegas. Proceeds from the Pentagon investment…

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