Rare-earth miner MP MaterialsMP soared during stock market trade on Thursday after announcing a multibillion dollar public-private partnership with the U.S. Department of Defense to "dramatically accelerate the build-out of an end-to-end U.

MP Materials unveiled a multibillion-dollar deal with the U.S. government on Thursday to boost output of rare earths and help loosen a stranglehold by top producer China on the minerals vital for military applications,

MP Materials has announced plans to expand rare earth mining and processing operations as Washington seeks to end its dependence.