CommoditiesMove aims to bolster network for critical minerals among allies, says new Asia Pacific presidentPhoenix Tailings, backed by Sumitomo's Presidio venture arm and Yamaha Motor Ventures, is building a rare earths midstream processing plant and aims to begin operations in 2028. (Phoenix Tailings)PAK YIUJuly 2, 2026 22:01 JSTNEW YORK -- U.S. rare earths processing startup Phoenix Tailings is drawing on Asia's manufacturing expertise and raw material supplies as it prepares to expand operations and build a production facility in the U.S..