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Reuters

The US Department of Defence ⁠said on Monday ⁠it would invest US$25 million ⁠in rare earths start-up ReElement Technologies, part of a broader push by the Trump administration to boost domestic supplies of critical minerals and challenge ‌China’s dominance of the sector.
ReElement aims to use a novel processing technology to refine rare earths and other critical minerals at its planned commercial facility in Marion, Indiana.
The rare earths are expected to be used ⁠in magnets found in a range of military equipment, including ‌fighter jets, missiles and submarines.
It was not immediately clear if the US$25 million investment is in the ‌form of a grant, loan or another funding ⁠mechanism.
Representatives ⁠for the Pentagon and ReElement were not immediately available to comment.
China dominates ‌global rare earths processing and magnet production, a strategic supply chain the United ‌States and ‌its allies have been seeking to diversify.
The Pentagon said ‌the funds will be used to purchase and ⁠install equipment at the Marion site, which is expected to recycle magnets ⁠and produce rare earths as well as germanium and gallium, critical minerals used in semiconductors and ‌defence applications.
Reuters reported last ‌week that ReElement had stopped seeking a US$80 million Pentagon loan, first announced last November, after the company struggled to satisfy the federal government’s due diligence requirements.


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The move is part of a push by the US to boost domestic supplies of critical minerals and challenge ‌China’s dominance of the sector


The move is part of a push by the US to boost domestic supplies of critical minerals and challenge ‌China’s dominance of the sector.


Pentagon invests US$25 million into rare earths start-up ReElement Technologies

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The move is part of a push by the US to boost domestic supplies of critical minerals and challenge ‌China’s dominance of the sector

The move is part of a push by the US to boost domestic supplies of critical minerals and challenge ‌China’s dominance of the sector