DoD $400 Million Preferred Equity Investment in MP Materials (July 2025)
Equity
Agency / program
Defense Production Act Title III
DoD's principal authority for expanding domestic industrial-base capacity, used repeatedly since 2020 to fund rare earth separation, processing, and magnet capacity through technology investment agreements, cooperative agreements, and related awards.
Agency: U.S. Department of Defense
Authority: Defense Production Act of 1950, Title III
Linked instruments
DoD $110/kg NdPr Price Floor Commitment for MP Materials (July 2025)
Price floor
DoD 10-Year 100% Magnet Offtake Commitment for the MP Materials 10X Facility (July 2025)
Offtake
DPA Title III Technology Investment Agreement with MP Materials for Light Rare Earth Separation (November 2020)
Cooperative agreement
DPA Title III Technology Investment Agreement with Lynas USA for Light Rare Earth Separation (February 2021)
Cooperative agreement
DPA Title III award to Urban Mining Company (Noveon Magnetics), 2020
Cooperative agreement
DoD $94.1 million agreement with e-VAC Magnetics, 2023
Grant
DPA Title III award to REEcycle, January 2025
Cooperative agreement
DoD RapidSX demonstration award — Ucore ($4 million)
Cooperative agreement
DoD follow-on production award — Ucore ($18.4 million)
Cooperative agreement
Sources
- U.S. Department of Defense · published Nov 17, 2020 · retrieved Aug 11, 2026 · archive