:

Pentagon

DoD Plans $150 Million Loan To Boost U.S. Rare Earth-Free Magnet Production

By Cal Biesecker

Friday, August 7th, 2026

SHARE:

DoD Plans $150 Million Loan To Boost U.S. Rare Earth-Free Magnet Production

Render of Niron's future rare earth-free manufacturing facility in Sartell, Minn. Image: Niron Magnetics

The Pentagon’s Office of Strategic Capital (OSC) on August 7 said it signed a $150 million conditional loan commitment with Niron Magnetics, Inc., to scale the company’s permanent magnets that are made with Iron Nitride rather than rare earth elements. The pending loan, which is subject to Niron satisfying financial, technical and legal requirements, is part of the Defense Department’s ongoing efforts to bolster domestic supply chains for critical minerals and materials and ween the U.S. defense industry off of…

Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

Defense Secretary Pete Hegseth said Wednesday the Trump administration plans to continue its push for at least $350 billion in defense funds via the reconciliation process “regardless of what happens […]

Congress

Bipartisan Push in Senate to Hasten Export of 155 mm, GMLRS, HIMARS for Ukraine

A small, bipartisan group of senators is backing the Fast Tracking European Investment in Ukraine’s Defense Act, S. 5175, to hasten the export of allied buys of U.S. munitions for […]

Congress

Rep. Himes Signals Increased Contractor Oversight, if Democrats Win House

Rep. Jim Himes (D-Conn.), the ranking member of the House Permanent Select Committee on Intelligence, plans to increase the committee’s contractor oversight if the Democrats win control of the House […]

Congress

CBO Estimates Loss of One-Half to Two-Thirds of U.S. Missile Interceptors Since June Last Year

A new Congressional Budget Office report estimates the cost of the Iran war through Aug. 1 as $38 billion and says that the U.S. has likely depleted between one-half and […]