U.S. backs revived Mountain Pass mine as linchpin in rare earth supply chain

Mar 23rd 2026 · United States

After buying the shuttered Mountain Pass site a decade ago, MP Materials rebuilt mining and refining capacity and added a U.S. magnet plant; the Pentagon invested $400 million, took a 15% stake, and secured a 10-year price floor to reduce dependence on China for critical rare earth magnets.