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Stock impact report

MP Materials Inks Rare Earths Deal With Mystery Automaker [Yahoo! Finance]

MP Materials Corp. (MP) 
Company Research Source: Yahoo! Finance
Photographer: Joe Buglewicz/Bloomberg (Bloomberg) -- MP Materials Corp. signed an “enormous” rare-earths supply contract with an unidentified automaker and is pursuing similar deals for a magnet-making plant it plans to build in Texas. The sole American producer of rare earth minerals said Thursday the agreement would supply neodymium-praseodymium oxide, a key material used to build motors, without providing additional details about the size of the contract. The news came alongside fourth-quarter earnings that beat analyst estimates. Most Read from Bloomberg LA's Bankrupt ‘Graffiti Towers' Finds Buyer for $470 Million An Insurance Expert Appraises the Safety Record of Self-Driving Cars New Tax Proposal Takes Aim at Thailand's Salty Food Obsession Oslo Rebuilds Its Government Quarter with a New Focus: Openness It's a Tough Time To Be a Black Real Estate Developer The deal is the latest sign that companies are racing to shore up supplies of rare earth materials that a Show less Read more
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