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The Department of Defense inked about $1.2 billion in conditional loans through its Office of Strategic Capital last week to two companies working on rare earth processing.
The OSC was established in 2022 as part of DOD’s efforts to research and develop technologies to meet its required needs.
Phoenix Tailings
DOD and rare earth mineral processor Phoenix Tailings signed an agreement for a $500 million conditional loan commitment to scale the company’s domestic processing, according to a June 16 press release.
