Australian rare earth miner surges after U.S. Department of Defense investment
The U.S. Department of Defense is investing $400 million in an Australian scandium miner to reduce dependence on China's supply chain.
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The U.S. Department of Defense is investing $400 million in an Australian scandium miner to reduce dependence on China's supply chain.
Trump has signed an executive order placing restrictions on the export of critical minerals scrap, according to White House officials.
China is utilizing export controls on rare-earth materials to retaliate against European Union sanctions targeting Chinese defense and technology firms.
China is restricting rare earth mineral exports to Japan while detaining Japanese nationals on suspicion of smuggling and unauthorized activity.
The U.S. government has signed a $725 million conditional loan agreement with Energy Fuels to increase domestic production of rare earth minerals.
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