In 2025, the U.S. Department of Defense (DoD) agreed to buy $400 million of preferred stock in MP Materials. This investment supports the expansion of its processing capacity and the construction of a second magnet manufacturing facility in the U.S. to supply key components to military weapons systems.

In a decisive action to bolster the U.S. supply chain for rare earth magnets—essential elements for fighter jets, missiles, and electric vehicles—the

MP Materials said on Wednesday it would sell $500 million of its common stock, a day after the U.S. rare earths miner inked a supply deal with Apple .

An Historic Public-Private Partnership The U.S. Defense Dept. announced yesterday it was making a multibillion-dollar investment in MP Materials (NYSE:MP), the sole operator of the rare earth mineral mine in California.

A rare-earths producer, MP Materials is developing a rare-earth magnet production facility in Texas. MP Materials and Apple are partnering to produce rare-earth magnets. Rare-earth magnet production at the Texas facility is expected to start in 2027.

MP Materials has a large amount of cash at hand and strong demand for rare earth magnets, with new partnerships announced. Read why I'm rating MP stock a buy.