MP Materials has announced plans to expand rare earth mining and processing operations as Washington seeks to end its dependence.

MP Materials unveiled a multibillion-dollar deal with the U.S. government on Thursday to boost output of rare earths and help loosen a stranglehold by top producer China on the minerals vital for military applications,

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.