US government to invest in rare earths production

The US government is set to invest in rare earths production by becoming the biggest shareholder in the nation's sole operational rare earths mine in Mountain Pass, California. This move aims to reduce America's reliance on rare earth imports, crucial for technologies like electric cars and wind turbines. The US Department of Defense will support this initiative by committing to a minimum price agreement with MP Materials, the mine's owner, for the next decade.