A formal statement regarding the investment is anticipated to be issued shortly.
As reported by Fox Business, the firms plan to establish facilities in Fort Worth, Texas, and Mountain Pass, California.
The announcement boosted MP Materials stock by 8% in premarket trading on Tuesday. The market cap of the company has increased over threefold since the beginning of this year (to $7.9 billion), whereas the S&P 500 index has risen by 16%.
source: foxbusinesss.com
