defense

Citing midstream processing as the critical link in America’s rare earths supply chain, the U.S. Department of War’s Office of Strategic Capital is planning to loan $500 million to Phoenix Tailings that would back half the cost of a large new plant, to be named the Freedom Facility. The funds would anchor an approximately $1 billion comprehensive financing initiative aimed at rebuilding America’s rare earth industrial base. Plans call for the facility to process diverse feedstocks to produce light and heavy rare earth metals by creating a large-scale separation and metallization capacity capable of serving mines, recyclers, manufacturers and government entities. […]