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13.06.25 - 18:06
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MP Materials Rockets 17% After Trump Admin Mulls Prioritizing U.S. Based Rare Earth Projects (ZeroHedge)
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MP Materials Rockets 17% After Trump Admin Mulls Prioritizing U.S. Based Rare Earth Projects
Yesterday MP Materials jumped as much as 17% to $29.96 —its highest intraday level since March—amid renewed government efforts to secure domestic rare earth supplies.
The Trump administration is drafting a plan to invoke Cold War-era powers under the Defense Production Act (DPA) to prioritize and fund rare earth projects deemed critical to national security, according to Bloomberg.
This includes financing for mining, processing, and downstream technologies to reduce U.S. dependence on China. A final strategy and timeline are still being developed.
MP Materials, the only domestic producer of rare earths, is expected to benefit significantly. Deputy Defense Secretary Steve Feinberg is reportedly helping to secure additional funding for the Nevada-based company, which has already received millions from the Pentagon.
Bloomberg writes that Defense Secretary Pete Hegseth recently told Congress that MP Ma...
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