Tag: $MP Materials

Shares of several U.S.-listed rare earth miners fell sharply on Monday as U.S. officials said they expect China to delay introducing export controls on critical minerals as part of a broader trade deal.

Prices of two rare earth elements needed for super-strong magnets have surged to their highest in more than two years after U.S. miner MP Materials (MP.N), stopped raw material exports to leading magnet maker China amid rising demand.

The Department of Defense struck agreements with MP Materials to accelerate the build-out of the country’s rare earth magnet supply chain and reduce foreign dependency, the company announced Thursday.