The U.S. government announced a $1.4 billion partnership Monday with Vulcan Elements and ReElement Technologies to build a domestic rare-earth magnet supply chain, marking one of the Trump administration’s most significant investments in reducing America’s dependence on Chinese critical minerals.
The deal includes a $620 million direct loan from the Department of War’s Office of Strategic Capital to North Carolina–based Vulcan Elements, which will build and operate a facility capable of producing 10,000 metric tons of magnets annually in the United States. The Commerce Department will provide $50 million in incentives under the CHIPS and…
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