The Pentagon has become the largest shareholder of US rare earth producers.

On July 10th, the largest rare earth producer in the United States, Mountain Pass Materials Corporation, announced that the Pentagon has agreed to purchase $400 million of convertible preferred stock in the company, making it the largest shareholder. According to the statement, the share purchase will be completed on the 11th, and after conversion, the Pentagon will hold 15% of the company. The Pentagon may continue to purchase common stock of the company in the future and inject billions of dollars in long-term investments.