finance
Pentagon Weighs Withdrawal of $80 Million Loan to Rare-Earths Refiner
Pentagon officials are considering withdrawing an $80 million conditional loan to rare-earths refiner ReElement Technologies. The move has triggered a dispute with the White House over efforts to reduce U.S. dependence on China for critical minerals.
May 21, 3:55 PM·1m read3 sources
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Pentagon officials are weighing whether to withdraw an $80 million conditional loan offer to rare-earths refiner ReElement Technologies. U.S. reliance on China for critical minerals.
The loan was structured as a conditional offer aimed at supporting domestic rare-earths processing capacity. ReElement Technologies operates as a refiner focused on materials essential to defense and technology supply chains.
The Pentagon's internal review of the loan has created friction between defense officials and White House staff. U.S. goals for securing supplies of minerals currently dominated by Chinese production. The sources did not provide further details on the timeline for a final decision or the specific conditions attached to the original loan offer.
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