MP Materials up after deal with Saudi's Maaden on developing rare earth supply chain

Shares of rare earths producer MP Materials MP.N rise 2.8% to $21.35

Co signs agreement with Saudi Arabian mining company Maaden to jointly establish a fully integrated, end-to-end rare earth supply chain in Saudi Arabia

Co says the memorandum of understanding was signed on the sidelines of the U.S.-Saudi Investment Forum 2025

The facility would include mining, separation, refining and magnet production

"It is an important first step towards rebalancing the global supply chain in a moment of transformational growth fueled by emerging technologies—especially in robotics and physical AI" - MP Materials CEO James Litinsky

Including session's move, MP up ~37% YTD