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Science Committee Dem Wants Commerce Department To Explain USA Rare Earth Investment

Cal Biesecker By
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Science Committee Dem Wants Commerce Department To Explain USA Rare Earth Investment
Rep. Zoe Lofgren (D-Calif.), ranking member on the House Science, Space, & Technology Committee. Photo: U.S. House of Representatives

The top Democrat on the House Science, Space, & Technology Committee is alarmed over the Commerce Department’s pending $1.6 billion investment in a critical minerals company, noting that details remain scarce and that the deal raises conflicts of interest for the department's secretary. Transaction terms require USA Rare Earth [USAR] to raise private capital, an effort led by the financial services firm Cantor Fitzgerald, which was controlled by Commerce Secretary Howard Lutnick until he transferred control to his children, Rep.…

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