Rare-Earth Startup Lines Up $500 Million in Pentagon Funding (opens original article in a new tab)

A rare-earth startup secured a $500 million Pentagon loan to boost US production of critical minerals, part of a broader effort to reduce reliance on China.

• Phoenix Tailings Inc. received a conditional $500 million loan from the Pentagon to support rare-earth production in the US
• The loan is part of a $1 billion initiative to expand US rare-earth processing capacity
• The funding aims to reduce reliance on China for critical minerals used in technology and defense