Core Insights - MP Materials' stock surged approximately 9% following a deal with the U.S. Department of Defense and Saudi Arabian Mining Company, Maaden, to develop a rare earth refinery in Saudi Arabia [1] - The joint venture will see MP and the Pentagon holding a 49% stake, while Maaden will hold at least 51% [1] - The U.S. Defense Department will finance the U.S. portion of the venture, with MP providing technical and marketing expertise [1] Summary by Sections - **Joint Venture Agreement**: The binding agreement to form the joint venture follows a memorandum of understanding signed in May, which aims to significantly expand MP's global footprint [2] - **National Security Alignment**: The structure of the agreement is designed to ensure U.S. oversight and alignment with national security objectives [2]