Shares of Australian rare earths miners, including Lynas and Iluka Resources , soared on Friday after U.S.-based MP Materials' a multibillion-dollar deal with the U.S. government to boost production of rare earth magnets.

The U.S. and China said they have agreed on a deal to reduce tariffs and expedite shipments of rare-earth metals. The post US, China agree on deal for tariffs, rare-earth magnets appeared first on FreightWaves.