REEMF should be beneficiary, hold for injection The U.S. story for rare earths metals is “going primetime.”
There’s been intrigue in rare earths the last few weeks, ever since the Pentagon abruptly reversed funding for MP Materials, operator of a rare earths mine in California.
In April, the Department of Defense awarded MP Materials a grant. This is part of the military funding program that’s aimed at boosting production of rare earths metals on U.S. soil.
But then, officials did an about-face. They rescinded the grant after an outcry over the fact that MP Materials is part-owned by a Chinese company.
They’ve gone back to the drawing board on the rare earths funding. All indications are the funding program is still going to happen. We’re just waiting to see who the new winners will be.