A rare-earths producer, MP Materials is developing a rare-earth magnet production facility in Texas. MP Materials and Apple are partnering to produce rare-earth magnets. Rare-earth magnet production at the Texas facility is expected to start in 2027.

Shares of MP Materials Corp. (MP) surged almost 41% in Thursday’s pre-market trading session after the company entered into a multi-billion-dollar deal with the U.S. Department of Defense. In a filing with the U.

Shares of the little-known mining company soared on Thursday on news that the Pentagon would become the largest shareholder.

The United States' need to secure a domestic supply of rare earth materials is a major driver for MP Materials stock. The recent Department of Defense partnership is great news for the company. Shares of rare earth materials and magnets company MP Materials (NYSE: MP) rose by 113.

An Historic Public-Private Partnership The U.S. Defense Dept. announced yesterday it was making a multibillion-dollar investment in MP Materials (NYSE:MP), the sole operator of the rare earth mineral mine in California.

MP Materials unveiled a multibillion-dollar deal with the U.S. government on Thursday to boost output of rare earth magnets and help loosen China's grip on the materials used to build weapons, electric vehicles and many electronics.

As of 10:17 a.m. ET on Friday, shares of MP Materials stock had climbed 6.5%.