The long-term bull case for the stock rests on the idea that U.S. administrations will aim for rare earth material independence from China, and MP Materials, a company that operates the only rare earth and processing facility, at Mountain Pass in California, , will be a key part of the process.

MP Materials announces a public-private partnership with the US Department of Defense to accelerate the build-out of an end-to-end US rare earth magnet supply chain.

MP Materials Corp (NYSE:MP) shares are rising Tuesday after the company signed a long-term agreement to supply Apple Inc (NASDAQ:AAPL).

However, it’s not just the government rushing to ensure rare earth supply. Apple (NASDAQ: AAPL) has one-upped the Pentagon by announcing a $500 million agreement with MP Materials to secure recycled rare earth magnets.

Apple's latest investment in a company that manufactures rare earth magnets in Fort Worth signals a significant shift in the tech giant's supply chain strategy, with implications for both the local economy and national manufacturing.

MP Materials Corp (NYSE: MP) shares surged on Thursday after the U.S. government announced a strategic investment to strengthen the domestic rare earth supply chain.

MP Materials (NYSE: MP) is up 50% today after an announcement that the Department of Defense is buying $400 million of preferred stock in the company. This will make the Pentagon the largest shareholder here.