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flag U.S. Defense Department invests $400M in domestic rare earth producer to reduce China reliance.

flag The U.S. Department of Defense has invested $400 million into MP Materials, the only domestic rare earth producer, acquiring a 15% stake. flag This partnership aims to reduce U.S. dependence on China for rare earth minerals, crucial for technologies like smartphones and electric vehicles. flag MP Materials will build a new magnet manufacturing facility, boosting its production capacity to 10,000 metric tons. flag The deal includes a price floor of $110 per kilogram for neodymium-praseodymium, a rare earth element. flag This move is part of efforts to secure domestic supply chains and reduce geopolitical risks.

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