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Defense Department Invests $750 Million To Help Secure Access To Rare Earth Materials

Cal Biesecker By
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Defense Department Invests $750 Million To Help Secure Access To Rare Earth Materials
Rare earth elements are critical to the production of visible laser sources. Photo: Serra Verde

The Defense Department on Monday said it is investing $750 million with a new special purpose vehicle, US SIIE, LLC, that will purchase rare earth carbonates mined and processed in Brazil, helping to secure a supply chain for the materials outside of China. On top of DoD’s investment, the arrangement also features a $300 million purchase agreement by the Defense Logistics Agency and a $500 million commitment from an unnamed money-center bank to help capitalize US SIIE, LLC, DoD said.…

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