A Strategic Shift for MP Materials: US-Saudi Partnership Challenges China’s Rare Earth Dominance

MP Materials is positioning itself at the forefront of a significant geopolitical realignment in the critical minerals sector. Following a substantial price correction, bullish sentiment is returning, fueled by a landmark joint venture in Saudi Arabia and substantial financial backing from the Pentagon. This move represents a direct challenge to China’s long-standing market dominance in rare earth elements.

On November 19, MP Materials confirmed a binding agreement to construct a rare earths processing facility in Saudi Arabia. The venture’s structure is particularly notable: Saudi Arabian partner Maaden will hold a controlling 51% stake, while MP Materials and the US Department of Defense will collectively own the remaining 49%.

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