Company secures $100 million financing for rare earth processing
The US Army has chosen a company to build and operate rare earth processing facilities on a military base.
The company closed $100 million in institutional financing, giving it a total of $130 million.
This financing will support the development of rare earth processing facilities, a key step in reducing dependence on foreign supplies.
The company has also secured feedstock agreements covering billions of tonnes of rare earth-bearing material from sources across Wyoming and Appalachia.