MP Materials, US DoW announce rare earth refinery JV in Saudi Arabia

MP Materials, the US Department of War (DoW) and the Saudi Arabian Mining Company (Maaden) have entered into a joint venture (JV) to develop a rare earth refinery in Saudi Arabia. This partnership follows the recent US and Saudi Arabia strategic framework agreement announced in Washington DC for cooperation on securing critical supply chains. MP Materials said the JV represents a significant step towards rebalancing the global rare earth supply chain and aligns with US economic and national security inte ...