Pentagon invests US$25 million into rare earths start-up ReElement Technologies

The US Department of Defence ⁠said on Monday ⁠it would invest US$25 million ⁠in rare earths start-up ReElement Technologies, part of a broader push by the Trump administration to boost domestic supplies of critical minerals and challenge ‌China’s dominance of the sector.ReElement aims to use a novel processing technology to refine rare earths and other critical minerals at its planned commercial facility in Marion, Indiana.The rare earths are expected to be used ⁠in magnets found in a range of military equipment, including ‌fighter jets, missiles and submarines.It was not immediately clear if the US$25 million investment is in the ‌form of a grant, loan or another funding ⁠mechanism.Representatives ⁠for the Pentagon and ReElement were not immediately available to comment.China dominates ‌global rare earths processing and magnet production, a strategic supply chain the United ‌States and ‌its allies have been seeking to diversify.