MP Materials to be ‘prime beneficiary’ of Trump rare earth plan, Bloomberg says

The Trump administration is working on a plan to invoke Cold War-era powers to support rare earth projects considered vital to national security, Joe Deaux, Jenny Leonard and Jennifer Dlouhy of Bloomberg reported, citing people familiar with the discussions. Officials are weighing the use of the Defense Production Act to unlock funding, loans, and other resources for initiatives related to mining, processing, and downstream technologies, all aimed at strengthening the U.S. rare earth supply chain. A final decision on the strategy and timeline has not yet been made, the sources said. MP Materials (MP) would be “a prime beneficiary” as Deputy Defense Secretary Steve Feinberg is working to line up funding for the company, according to the sources.