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Pentagon Loaning $500 Million To Rare Earth Element Processing Company For Expansion

Cal Biesecker By
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Pentagon Loaning $500 Million To Rare Earth Element Processing Company For Expansion
An aerial view of the Pentagon. (U.S. Navy Photo)

The Defense Department’s Office of Strategic Capital (OSC) on Tuesday said it has agreed to provide Phoenix Tailings a conditional $500 million loan for the processing of rare earth elements to expand existing capacity and construct a new facility as part of ongoing efforts to bolster the U.S. industrial base. Phoenix Tailings is also receiving another $500 million in private capital to assist with the expansion and construction. The Massachusetts-based company is currently conducting a nationwide search for the new…

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