MP Materials soars on Saudi Arabia rare earth joint venture

MP Materials owns and operates Mountain Pass, the only rare earths mine in the US. Credit: MP MaterialsMP Materials (NYSE: MP) has teamed up with the US Department of War (DoW) to form a joint venture in Saudi Arabia with Maaden, the kingdom’s flagship mining company, to build a rare earth refinery. Shares of the company rose.The formation of this joint venture, said MP in a press release Wednesday, represents “a pivotal step toward rebalancing the global rare earth supply chain and aligns with US economic ...