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DoD Strategic Capital Office To Loan $700 Million To U.S. Supply Of Rare Earth Elements

Cal Biesecker By
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DoD Strategic Capital Office To Loan $700 Million To U.S. Supply Of Rare Earth Elements
ReElement Technologies purification and separation column. Photo: ReElement

The Defense Department’s Office of Strategic Capital (OSC) last Friday said it is loaning $700 million to two U.S. companies to increase domestic production of rare earth magnets used in defense and commercial applications. Vulcan Elements will receive $620 million and ReElement Technologies $80 million in conditional loans for the separation, metallization and magnet manufacturing related to Neodymium Iron Boron (NdFeB). The companies will use the loans to increase their manufacturing and processing capabilities, producing a combined 10,000 metric tons…

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