The US government is set to become the largest shareholder in the only operational rare earths mine in the country, located in Mountain Pass, California, aiming to reduce dependency on imports from China.

• The Department of Defense has agreed to a minimum price of $110 per kg for neodymium and praseodymium output over the next 10 years.
• MP Materials, the mine's owner, will establish a new facility in the US to process raw materials, funded by $400m from the Department.
• This move comes amidst concerns about China's control over the rare earths market, which has sparked tensions and trade disputes between the two nations.