Trump approves funding for rare earth development
2019-07-26 17:26:07 [Print]
Recently, U.S President Trump signed five memorandums, requiring to funding the development of U.S. rare earth supply chain, including ore, metal and magnet.
The memorandums were signed pursuant to Section 303 (stipulation of purchasing resources or key technologies to recover domestic industrial base essential to national defense) and other articles of Defense Production Act. These five requirements will enable the U.S. to separate and process heavy rare earths and light rare earths and produce NdFeB, samarium cobalt magnet, rare earth metals and alloys.
About 80% of the world's rare earth permanent magnets and rare earth materials are from China and the U.S. does not have enough capacity to separate rare earths and produce metals, alloys and magnets. Located in Mountain Pass, California, the country's only one producing mine exports its products.
"Section 303 clears the way for senior management to start funding projects in short term, which meets production standard. At last, the government will pave a forward way and launch the U.S. supply chain," Chairman of Texas Mineral Resources said. The company is cooperating with U.S. Rare Earths Co., Ltd. on development of Round Top heavy rare earths project.
The memorandums were signed pursuant to Section 303 (stipulation of purchasing resources or key technologies to recover domestic industrial base essential to national defense) and other articles of Defense Production Act. These five requirements will enable the U.S. to separate and process heavy rare earths and light rare earths and produce NdFeB, samarium cobalt magnet, rare earth metals and alloys.
About 80% of the world's rare earth permanent magnets and rare earth materials are from China and the U.S. does not have enough capacity to separate rare earths and produce metals, alloys and magnets. Located in Mountain Pass, California, the country's only one producing mine exports its products.
"Section 303 clears the way for senior management to start funding projects in short term, which meets production standard. At last, the government will pave a forward way and launch the U.S. supply chain," Chairman of Texas Mineral Resources said. The company is cooperating with U.S. Rare Earths Co., Ltd. on development of Round Top heavy rare earths project.
