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

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,

In a dramatic effort to reduce US reliance on China for critical minerals, the Pentagon is investing $400 million in MP Materials, the only company currently producing rare earths in the United States.