US EditionTrump Administration and Private Investors Sign Off on $1.4 Billion Deal with Rare Earth Startups
- The Trump administration has partnered with two rare earth startups, Vulcan Elements and ReElement Technologies, in a $1.4 billion deal to enhance access to rare earth materials and technology essential for high-tech goods and military equipment.
- The investment aims to boost annual magnet production to 10,000 tonnes, which will strengthen the U.S. supply chain dominated by China.
- The deal includes a $620 million loan from the Department of Defense and federal incentives, marking a significant government investment in the rare earth industry.
- Secretary of Commerce Howard Lutnick stated that the investment aims to accelerate U.S. production of rare earth magnets for American manufacturers.
65 Articles
65 Articles
ABC FOX Montana
Trump Administration partners with rare earth startups in $1.4 billion deal
WASHINGTON, D.C. - The Trump Administration, along with private investors, announced a new partnership with two rare earth startups to bolster domestic production of rare earth magnets.
Associated Press News
Trump administration and private investors sign off on $1.4 billion deal with rare earth startups
The Trump administration and private investors are partnering with two rare earth startups in a $1.4 billion deal to scale up the nation’s access to materials and technology that is crucial for producing an array of high-tech goods and military equipment.
The Trump administration and private investors are collaborating with two rare-earth startups in a $1.4 billion agreement to increase the country's access to materials and technology crucial to the production of a variety of high-tech products and military equipment.
US Takes Equity in $1.4B Rare-Earth Venture
The Trump administration continues its push to rebuild domestic supply chains for critical technologies through a US$1.4 billion public-private partnership with Vulcan Elements and ReElement Technologies -a subsidiary of American Resources Corporation (NASDAQ:AREC)- to expand US production of rare earth magnets.The Department of Commerce’s announced that it signed a preliminary letter of intent to provide US$50 million in proposed incentives to …
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