What Happened
US Boosts Domestic Rare Earths Supply Amid China Dominance
The US Department of Defense has invested $25 million in ReElement Technologies, a rare earths startup, as part of a broader push to boost domestic supplies of critical minerals and challenge China’s dominance in the sector. ReElement plans to use a novel processing technology to refine rare earths and other critical minerals at its commercial facility in Marion, Indiana. The rare earths will be used in magnets found in various military equipment, including fighter jets, missiles, and submarines. This investment was reported by Reuters.