WASHINGTON (dpa-AFX) - The Department of War's Economic Defense Unit, in partnership with the Office of the Under Secretary of War for Acquisition and Sustainment, has announced a $25 million investment with ReElement Technologies Corp. to expand domestic refining capacity for rare earth elements and other defense-critical minerals at the company's commercial refining hub in Marion, Indiana. This investment will strengthen the U.S. industrial base by securing domestic access to materials essential for advanced defense systems, aerospace components, and secure communications.
'Strengthening our domestic refining capacity for rare earth elements and other critical minerals is a national security imperative,' said HON Michael Cadenazzi, Assistant Secretary of War for Industrial Base Policy. 'Executed by the Economic Defense Unit (EDU) and financed by the OASW(IBP) Industrial Base Fund, this investment actively rebuilds a domestic, mine-to-magnet supply chain. This effort guarantees the joint force has reliable access to the critical materials required for advanced defense systems.'
The Department of War is funding equipment, installation, and working capital to help ReElement expand its production lines. The effort will focus on processing end-of-life magnets and other recycled materials to produce high-purity rare earth oxides, yttrium, gadolinium, germanium, and gallium.
ReElement Technologies Corp. is an Indiana-based critical mineral refining company that separates and purifies rare earth elements, lithium, and other battery metals from recycled materials and ores.
George K. Kollitides II, Director of the Economic Defense Unit, said critical minerals are fundamental to sustaining the United States' warfighting capacity.
The agreement between the Department of War and ReElement Technologies includes robust safeguards to protect U.S. interests, including restrictions on transactions with foreign companies of concern.
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