The Pentagon’s package of support for rare earths company MP Minerals, announced on 10 July, should free the US military and eventually much of US industry from dependence on Chinese supply chains for rare earth magnets. It resembles the decisive Japanese government support for Australia’s Lynas Rare Earths in 2010, which included a guaranteed offtake agreement and patient capital. The Pentagon deal goes further, providing MP Minerals with a government-backed floor price for neodymium and dysprosium of US$110 a pound, double the prevailing price set by the Chinese market. It guarantees to deliver customers for the ... (full story)