Source: BBC News [UK State Media]
“The US government is to become the biggest shareholder in the country’s only operational rare earths mine. It is also going to take a series of other steps to underpin the future of the operation in Mountain Pass, California. Rare earths are essential to huge amounts of modern technology, such as electric cars and wind turbines. Access to these metals has been at the heart of a US-China trade war, with Beijing controlling about 90% of global mining capacity. MP Materials, which owns the mine, has entered into an agreement with the US Department of Defense that is designed to reduce America’s dependency on imports of rare earths. The deal means that for the next 10 years the US government will commit to MP Materials receiving a minimum price of $110 per kg for its neodymium and praseodymium output.” (07/10/25)