US announces $400m investment in Australian rare earth mine
- Deal aims to secure scandium supply as China restricts exports for defence products.
- The United States Department of Defense has announced a $400m conditional loan commitment to an Australian company to build the world’s first primary mine for scandium, a critical rare earth element whose market is dominated by China.
- After a meeting between US President Donald Trump and mining executives in Washington, the Pentagon said in a statement on Friday that the project would “ensure Western alignment from mine to finished product”.
Unverified
- Deal aims to secure scandium supply as China restricts exports for defence products.
- The United States Department of Defense has announced a $400m conditional loan commitment to an Australian company to build the world’s first primary mine for scandium, a critical rare earth element whose market is dominated by China.
- After a meeting between US President Donald Trump and mining executives in Washington, the Pentagon said in a statement on Friday that the project would “ensure Western alignment from mine to finished product”.
Sources: Al Jazeera