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Stock impact report

China dominates the rare earth elements industry, but this American company hopes to challenge China's grip [CBS News]

MP Materials Corp. (MP) 
Company Research Source: CBS News
an agenda item bound to figure prominently: rare earth elements. Right now, China holds a near-monopoly over these strategic metals that are key components in so much that makes the modern world go: smartphones, robotics, EV's; also fighter jets, drones and radar technology. That is, China controls materials essential to America's ability to wage war. Tonight, the story of an American company confronting this elemental crisis. It mines rare earth elements, processes them, and makes them into superpowered magnets. And it's part-owned by us, American taxpayers, in an unusual deal crafted by the federal government. An hour southwest of Las Vegas, in the guts of the Mojave, Mountain Pass, California, might be the ultimate front of our trade war with China. This massive cavity in the ground? Behold, the only active rare earth mine in the U.S. This is an unlikely battleground. Jon Wertheim: Are we stepping on rare earths, as we speak? Michael Rosenthal: Yes. Everywhere you look is, is Show less Read more
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