America's largest rare earth company, MP, disclosed in an announcement this week that Shenghe Resources, under China's Ministry of Finance, reduced its holdings of MP stock by 8.17 million shares in Q3 [held 13.71 million shares in the first half of the year, 5.54 million shares in Q3]. MP's stock price was around $70 in Q3, and this reduction is estimated to have cashed out $570 million. Shenghe invested in MP in 2017, with an initial cost of $110.98 per share—yes, the unit is correct, just under 1,000 RMB.