US rare-earths miner MP Materials to go public in $1.47bn deal
The US wants to increase its work in rare earths, a group of 17 minerals used in weapons and electronics, of which China is the largest producer
15 July 2020 - 17:55
Houston — US rare-earths miner MP Materials said on Wednesday it would go public through a merger with a blank-cheque company backed by private equity firm Fortress Investment Group in a deal valued at $1.47bn.
The listing on the New York Stock Exchange would be the first for a US rare-earths company since Molycorp went public a decade ago. Molycorp filed for bankruptcy in 2015 and MP Materials bought Molycorp’s assets, including California’s Mountain Pass mine, out of bankruptcy in 2017...
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