Defense Department Awards California Firm Grant For Rare Earth Element Extraction

December 8, 2020 10:05:36

The operator of the biggest rare element mines in the Western Hemisphere, MP Materials, was among three firms that received grants from the Department of Defense (DOD) on Nov. 17. These grants are centered on restoring the production of rare earth elements in the United States. The company uplisted on the New York Stock Exchange the day after receiving the grant.

The Defense Production Act Title III grant, worth $9.6 million, was awarded by the Pentagon to the firm so it could…

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