Photo Credit: Fair Use [17 U.S.C. § 107] The US DoD injected US$400 million into Las Vegas-based MP Materials Corp., positioning it to become its largest shareholder
Department Of Defense Investment In Rare Earth Mining Company Offers Road Map For Sector Revitalization
11 Jul 2025 | Abstracted from Financial Post
"Although Canada has one of the largest known reserves of rare earths, estimated at more than 15 million tonnes in 2023, it does not currently produce significant quantities. China produced 210,000 tonnes in 2022, more than every other country combined.
"MP Materials said it expects a US$150-million loan to help construct a new magnet facility in the U.S..commitment letter from JPMorgan Chase Funding Inc. and Goldman Sachs Bank USA to provide US$1 billion in financing for its proposed magnet facility."
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