Pentagon inks pair of rare earth mineral loans for $1.2 billion

Live updates

1. 1h ago

   Pentagon Allocates $1.2 Billion in Rare Earth Mineral Loans

   The Office of Strategic Capital issued two conditional loans to expand domestic rare earth processing. Energy Fuels and Phoenix Tailings are the recipients of the funding. The initiative supports the production of precision munitions and fighter jets.

   What's confirmed:

   • The Pentagon Office of Strategic Capital signed two conditional loans totaling $1.2 billion.
   • Energy Fuels received a $725 million loan.
   • The $725 million loan to Energy Fuels supports metallization capacity to convert rare earth oxides into neodymium-iron-boron alloys.
   • Phoenix Tailings received a $500 million loan.

   Still unconfirmed:

   • Phoenix Tailings intends to process light and heavy minerals by 2028 via its Freedom Facility project.
   • The funding for Energy Fuels will support a new rare earth separation and metallization facility.
   confidence 90%
2. 2d ago

   Pentagon Issues $1.2 Billion in Rare Earth Mineral Loans

   The Pentagon's Office of Strategic Capital has signed two conditional loans totaling $1.2 billion to expand domestic rare earth processing. Energy Fuels and Phoenix Tailings are the recipients of these funds. The initiative aims to secure supply chains for industrial products and future weapons systems.

   What's confirmed:

   • The Pentagon's Office of Strategic Capital signed two conditional loans totaling $1.2 billion for the rare earth elements sector.
   • Energy Fuels received a $725 million conditional loan to support domestic rare earth production.
   • Phoenix Tailings received a $500 million conditional commitment for a rare earth midstream processing plant.
   • Michael Cadenazzi, Assistant Secretary of Defense for Industrial Base Policy, stated that scaling weapons production is a "pipe dream" without germanium, gallium, and rare earths.

   Still unconfirmed:

   • The total loan amount for rare earth processing plants is $1.25 billion.
   • Phoenix Tailings is backed by BMW and Sumitomo.
   confidence 95%