Government support tracker

Which rare earth companies has the US government invested in? (tracker)

The US government has put up or promised $8.18B for 22 rare earth recipients, but only $873M (11%) is closed or awarded. The largest closed investment is the Department of Defense's $400M in MP Materials preferred stock in Jul 2025.

Every row carries a status, so a conditional commitment, a letter of interest or an application is never read as money paid. $1.62B of the total is for one project outside the US, the Serra Verde mine in Brazil, which USA Rare Earth owns.

Verified through Oct 1, 2026

See all 27 rows Download CSV

Federal support tracked: $8.18B27 rows, 22 recipients
Closed or awarded: $873M11% of the total
Announced or conditional: $5.42BNot yet closed
Letters and applications: $1.88BNon-binding or in review
State and local, tracked apart: $320MNot added to federal totals

The tracker

Which rare earth companies has the US government invested in?

The US government has invested in or committed money to 22 rare earth recipients across 27 federal rows. The table lists each company's agency, instrument, amount, date, conditions and status; filter by status, agency or type, or click a column to sort.

Status

Agency

Type

27 of 27 shown

US federal support for rare earth companies: every row with its status and source
Company	Agency	Instrument	Amount	Date	Conditions	Status	Source
USA Rare Earth	Department of Commerce (CHIPS)	Up to $277M funding plus up to $1.3B senior secured loanDefinitive agreements, signed after a Jan 26, 2026 letter of intent. Includes $50M for the Stillwater magnet plant and $20M for the Stillwater metal plant.	Up to $1.6B	Jun 3, 2026	Disbursements are tied to project milestones	Conditional	Source
NioCorp	EXIM	Loan applicationIn independent technical review; the company targets construction start in Dec 2026.	$780M to $800M	2025 to 2026	No final commitment	In review	Source
Aclara Resources	EXIM	Letter of interest (Make More in America), tenor up to 15 yearsA preliminary indication for Project Dynamo (separation, metals and alloys) at the Port of Vinton, Louisiana.	Up to $750M	Sept 4, 2026	Subject to due diligence, underwriting and authorization	Non-binding	Source
Serra Verde	Department of War (Economic Defense Unit, IBAS program)	Investment in the special purpose vehicle (US SIIE, LLC) that buys Serra Verde output under a 15-year offtake with price floorsFor the Pela Ema project in Brazil, which USA Rare Earth acquired on Sept 3, 2026. Part of a $1.55B structure with the $300M forward purchase contract and a $500M bank commitment letter, which is not federal and not counted here. USA Rare Earth says the vehicle was fully capitalized on Aug 24, 2026; the sources checked do not say how much has been paid in.	$750M	Aug 24, 2026	Offtake with a take-or-pay arrangement and floor prices (company-reported)	Announced	Source
Energy Fuels	Office of Strategic Capital (Department of War)	20-year loan commitmentFor a domestic separation and metallization facility.	$725M	Jun 2026	None published	Conditional	Source
Vulcan Elements	Office of Strategic Capital (Department of War)	Conditional loan commitment (joint $700M package with ReElement)Plus $550M of private capital for a plant of about $1B in Benson, North Carolina. Closing is not confirmed in the sources checked.	$620M	Nov 2025	Conditional; closing not confirmed in the sources checked	Conditional	Source
Serra Verde	US International Development Finance Corporation	Senior secured loan with warrants for up to 12% of SVRE Holdings Ltd.To improve the Pela Ema mine, pay operating costs and refinance shareholder debt, before USA Rare Earth acquired Serra Verde. DFC's board approved the package on Dec 10, 2025 and published it on Feb 3, 2026; whether it has been drawn is not confirmed here.	$565M	Feb 2026	Warrants for up to 12% of the equity of SVRE Holdings Ltd.; what happened to them after the Sept 2026 acquisition is not stated	Announced	Source
Phoenix Tailings	Office of Strategic Capital (Department of War)	Long-term loan commitmentPart of a roughly $1B initiative for the Freedom Facility and expansion.	$500M	Jun 16, 2026	Subject to due diligence and milestones before financial close	Conditional	Source
MP Materials	Department of Defense (Department of War)	Convertible preferred stockConvertible into 13.3M MP shares at $30.03. With a 10-year warrant for 11.2M more shares it equals about 15% of the shares outstanding in Jul 2025, fully converted and exercised.	$400M	Jul 2025	$110/kg NdPr price floor; 10-year offtake of 10X magnets	Closed	Source
Serra Verde	Defense Logistics Agency (Department of War)	Forward purchase contract with the vehicle for at least $300M of rare earth products over five yearsAnnounced by the Department of War as a Defense Logistics Agency purchase commitment, part of the same $1.55B structure as the $750M investment. The release does not say what the agency will buy or when.	$300M	Aug 24, 2026	Over five years; no delivery schedule or price terms published	Announced	Source
REalloys	EXIM	Letter of interest (China and Transformational Exports Program)A preliminary indication of financing for the REalloys mine-to-magnet project capital expansion, with a provisional repayment term of up to 15 years.	Up to $200M	Oct 29, 2025	The letter is stated to remain in effect through Oct 14, 2026	Non-binding	Source
MP Materials	Department of Defense (Department of War)	Loan to extend heavy rare earth refining to samarium oxide separationPart of the Jul 2025 agreement: a $150M unsecured promissory note from MP Materials to the department, 12 years at 5.38% (10-year Treasury plus 1.00%), for Mountain Pass.	$150M	Aug 2025	None published	Closed	Source
eVAC Magnetics	Section 48C (federal tax credit)	Advanced energy project tax creditFor the Sumter, South Carolina plant; reported as about $112M in Apr 2024.	$111.9M	Date not stated	None published	Closed	Source
Lynas USA	Department of War	Binding letter of intent, oxide purchases over four yearsPurchases of Lynas oxide; the Seadrift, Texas plant itself remains uncertain.	About $96M	Mar 2026	Soft price floor of about $110/kg for NdPr oxide	Announced	Source
eVAC Magnetics	Department of Defense	AwardFor the Sumter, South Carolina NdFeB plant.	$94.1M	Date not stated	None published	Closed	Source
HyProMag USA	EXIM	Letter of interestFor a Texas recycling and magnet facility targeted for mid-2027 commissioning.	Up to $92M	2025 to 2026	None published	Non-binding	Source
ReElement Technologies	Office of Strategic Capital (Department of War)	Conditional loan commitment, with warrants to the Department of WarJoint $700M package with Vulcan Elements, announced as part of a $1.4B partnership. Closing is not confirmed in the sources checked.	$80M	Nov 2025	Conditional; closing not confirmed in the sources checked	Conditional	Source
Five coal-waste pilots	Department of Energy	Pilot selections for award negotiationUND Falkirk, Valor Metals, CONSOL Innovations, American Resources and Peabody were selected. DOE says selection is not a commitment to issue an award, and amounts may change.	$75M	Jul 1, 2026	Individual award amounts not disclosed	Announced	Source
ElementUSA	Department of Energy	Selected for award negotiation with Colorado School of Mines (Rare Earth Demonstration Facility Program)To design and build a demonstration facility near the Gramercy alumina refinery in Louisiana that recovers rare earths from bauxite residue. DOE calls this a selection for award negotiations, not an award, while the university and press reports call it an award. The $67M figure is the university's.	$67M	Jun 2, 2026	Selection is not a commitment to fund; amounts may change in negotiation	Announced	Source
Phoenix Tailings	Department of Energy	Selected for award negotiation (Rare Earth Demonstration Facility Program)For a demonstration-scale facility that makes high-purity rare earth metals from industrial waste feedstocks, with MIT and the University of Minnesota. The company puts the project cost at $147.8M. DOE says selection is not a commitment to fund and amounts may change. The $66M figure is the company's.	About $66M	Jun 2, 2026	Selection is not a commitment to fund; amounts may change in negotiation	Announced	Source
Vulcan Elements	Department of Commerce	CHIPS incentive for equipment, with $50M of equity to CommerceThe CHIPS Program Office signed a non-binding preliminary letter of intent for $50M of proposed incentives toward equipment for NdFeB magnet production; Commerce would receive $50M of equity in Vulcan Elements. Announced with the Office of Strategic Capital commitment.	$50M	Nov 3, 2025	Preliminary and non-binding; not yet a final award	Non-binding	Source
ElementUSA	Department of War	Defense Production Act Title III award for a gallium and scandium demonstration plantTo ElementUS Minerals, LLC for a demonstration facility at Gramercy, Louisiana that separates and purifies gallium and scandium from bauxite residue, with initial development work at a research hub in Cedar Park, Texas. It is separate from the DOE rare earth selection below.	$29.9M	Nov 20, 2025	None published	Closed	Source
ReElement Technologies	Department of War (Industrial Base Fund)	Investment (form not stated)For equipment, installation and working capital to expand refining at the Marion, Indiana facility. The agreement restricts transactions with foreign entities of concern.	$25M	Jul 15, 2026	None published	Closed	Source
Rare Element Resources	Department of Energy	Funding for the Upton demonstration plantDOE approved the budget to start on-site construction in Dec 2023.	$24.2M	Date not stated	None published	Closed	Source
Ucore Rare Metals	Department of Defense	Other Transaction Agreement ($18.4M in May 2025 plus $4M earlier)Initial construction funding for the Louisiana Strategic Metals Complex.	$22.4M	May 2025	None published	Closed	Source
NioCorp	Department of War	GrantSeparate from the EXIM loan application; about $8.1M received by Jun 30, 2026.	$10M	2025	None published	Closed	Source
REEcycle	Department of War	Defense Production Act Title III award for magnet recyclingTo restart a demonstration facility and commission a commercial plant. About $4.3M remained to be disbursed monthly in Jun 2026, when REEcycle agreed a stock-market combination with a Nasdaq-listed acquisition company.	$5.1M	Jan 2025	None published	Closed	Source

Amounts are the headline figure in $ millions for sorting; "up to" amounts count at the ceiling, which overstates what is final. Federal rows only; state and local incentives are listed below and are not added to these totals. Sorting by Agency groups the Office of Strategic Capital with the Department of War. The three Serra Verde rows are for a mine in Brazil that USA Rare Earth bought in Sept 2026; they are counted here and left off the state pages. Not counted: The EXIM letter of interest to Critical Metals Corp for up to $120M (Tanbreez, Greenland) expired on Jun 14, 2026, and the company says an application for renewal is in progress (company-reported). A lapsed item is listed in the data downloads and is left out of every total and count on this page.

Data CSV JSON Free to use with a link back to this page. Verified Oct 1, 2026.

How much has the US government actually paid rare earth companies?

Only $873M of the $8.18B tracked (11%) is closed or awarded. The largest closed items are MP Materials ($400M), MP Materials ($150M), eVAC Magnetics ($111.9M).

"Closed or awarded" means money invested or an award made. It does not mean the money has been spent: the NioCorp grant, for example, was about $8.1M received of $10M by Jun 30, 2026, and the REEcycle award was about $4.3M undisbursed in Jun 2026.

Ceilings overstate what is final. Commerce's up to $1.6B for USA Rare Earth counts at the ceiling, and its disbursements are tied to milestones. See the MP Materials deal explainer for the largest closed package.

Of the $8.18B in company-level support rows tracked here, $873M (11%) is closed or awarded.

Closed or awarded$873M
Announced$1.92B
Conditional commitment$3.5B
Non-binding letter$1.09B
Under review$790M

Which agencies are investing in US rare earth companies?

The Department of War is the largest source at $3.81B across 15 rows, followed by EXIM ($1.83B) and Department of Commerce ($1.63B). Most EXIM money is a non-binding letter or an application in review.

Department of War15 rows $3.81B
EXIM4 rows $1.83B
Department of Commerce2 rows $1.63B
US International Development Finance Corporation1 row $565M
Department of Energy4 rows $232M
Treasury (tax credit)1 row $112M

ClosedAnnouncedConditionalNon-bindingIn review

Includes the Department of Defense, Army, Defense Logistics Agency and the Office of Strategic Capital. The Office of Strategic Capital is part of the Department of War.

What kinds of support does the US government give rare earth companies?

Support comes as equity, loans, grants, purchase agreements, tax credits and mixed packages. Loans are the largest kind by amount, at $4.47B, but most are conditional, announced or non-binding.

Kinds of US government support and what each one means
Kind	What it means	Rows	Tracked	Largest example
Equity	The government buys shares or convertible stock and shares in the upside.	2	$450M	MP Materials: $400M Closed
Loan	Debt that is repaid with interest. Letters of interest and applications are counted here but carry a status.	10	$4.47B	NioCorp: $780M to $800M In review
Grant or award	Awards and agreements that are not repaid.	9	$394M	eVAC Magnetics: $94.1M Closed
Purchase agreement	A commitment to buy the output, which supports a plant without funding it.	2	$396M	Serra Verde: $300M Announced
Tax credit	A credit against federal tax for building a qualifying facility.	1	$112M	eVAC Magnetics: $111.9M Closed
Funding plus loan	A package that combines a funding award and a loan.	1	$1.58B	USA Rare Earth: Up to $1.6B Conditional
Investment (form not stated)	An investment whose form the announcement does not state.	2	$775M	Serra Verde: $750M Announced

What do the status labels mean?

Every support row has one of 5 statuses: closed or awarded, announced, conditional commitment, non-binding letter or under review. The label states how far a deal has progressed, so a letter of interest is never shown as an award.

Closed
Closed or awarded

Money invested or an award made.

$873M across 10 rows. Largest: MP Materials, $400M.
Announced
Announced

Publicly announced or approved; closing not confirmed here.

$1.92B across 7 rows. Largest: Serra Verde, $750M.
Conditional
Conditional commitment

A commitment that depends on conditions being met.

$3.5B across 5 rows. Largest: USA Rare Earth, Up to $1.6B.
Non-binding
Non-binding letter

A letter of intent or interest with no binding obligation.

$1.09B across 4 rows. Largest: Aclara Resources, Up to $750M.
In review
Under review

An application in technical or credit review.

$790M across 1 row. Largest: NioCorp, $780M to $800M.

The same labels are used on every company profile. The methodology page explains how each row is verified and graded.

Is the US government taking ownership stakes in rare earth companies?

Yes, in a few. The Department of Defense holds $400M of convertible preferred stock that converts into about 15% of MP Materials, Commerce signed a non-binding letter of intent for $50M of equity in Vulcan Elements, and the Department of War holds warrants in ReElement and made a $25M investment in it.

The MP Materials stake is closed. The Vulcan Elements equity and the ReElement warrants were announced in Nov 2025 with loans, and closing is not confirmed in the sources checked. USA Rare Earth's Jan 2026 letter of intent with Commerce described shares and warrants for the government; the Jun 2026 definitive agreements are milestone-based (USA Rare Earth 8-K). DFC's loan to Serra Verde in Brazil carries warrants for up to 12% of its holding company, dating from before USA Rare Earth bought it.

See MP Materials, Vulcan Elements and USA Rare Earth for the terms, and government equity stakes for the policy background.

What are the most recent US support announcements for rare earth companies?

The latest rows by date are Aclara Resources (Sept 4, 2026), Serra Verde (Aug 24, 2026), ReElement Technologies (Jul 15, 2026). The Sept 4, 2026 EXIM letter to Aclara is a non-binding indication, and DOE's Jul 1, 2026 coal-waste pilots are selected for negotiation and not yet awarded.

Sept 4, 2026 Aclara ResourcesEXIM: Letter of interest (Make More in America), tenor up to 15 years Up to $750M Non-binding
Aug 24, 2026 Serra VerdeDepartment of War (Economic Defense Unit, IBAS program): Investment in the special purpose vehicle (US SIIE, LLC) that buys Serra Verde output under a 15-year offtake with price floors $750M Announced
Aug 24, 2026 Serra VerdeDefense Logistics Agency (Department of War): Forward purchase contract with the vehicle for at least $300M of rare earth products over five years $300M Announced
Jul 15, 2026 ReElement TechnologiesDepartment of War (Industrial Base Fund): Investment (form not stated) $25M Closed
Jul 1, 2026 Five coal-waste pilotsDepartment of Energy: Pilot selections for award negotiation $75M Announced
Jun 2026 Energy FuelsOffice of Strategic Capital (Department of War): 20-year loan commitment $725M Conditional
Jun 16, 2026 Phoenix TailingsOffice of Strategic Capital (Department of War): Long-term loan commitment $500M Conditional
Jun 3, 2026 USA Rare EarthDepartment of Commerce (CHIPS): Up to $277M funding plus up to $1.3B senior secured loan Up to $1.6B Conditional

Which states and local governments support US rare earth companies?

Texas, Louisiana, Wyoming, North Carolina and Alaska have tracked incentives for rare earth companies, worth about $320M excluding Alaska's $145M bond authorization. Texas and local bodies lead with about $200M for MP Materials' 10X campus.

State and local incentives for US rare earth companies (not federal)
Company	Body	Instrument	Amount	Date	Status
MP Materials	State of Texas, Denton County and the City of NorthlakeTexas	Incentive package for the 10X campusState and local package; not federal money.	About $200M	Feb 2026	Closed
Ucore Rare Metals (Bokan Mountain)	Alaska Industrial Development and Export AuthorityAlaska	Authorized bond financing (SB 99)An authorization, not an award; no draw is reported in the sources checked.	Up to $145M	2014	Non-binding
Aclara Resources	State of LouisianaLouisiana	Incentive package including an 80% property tax exemption for 10 yearsFinal Industrial Tax Exemption Program approval in Jun 2026.	$46.4M	Oct 2025	Closed
Vulcan Elements	State of North Carolina (Job Development Investment Grant)North Carolina	Grant over 12 yearsDepends on job and investment targets.	Up to $17.58M	Nov 2025	Conditional
Ucore Rare Metals	State of Louisiana and the Greater Alexandria Economic Development AuthorityLouisiana	Incentive package and local grantsCompany-reported.	About $15M	2025	Closed
USA Rare Earth	State of Texas (Semiconductor Innovation Fund)Texas	Grant for Round TopState, not federal, funding.	$14.2M	2026	Closed
Peabody	Wyoming Energy AuthorityWyoming	Energy matching funds for a pilot processing facility at Rawhide minePeabody told investors in Feb 2026 that it had recently been awarded the matching funds; part of $11.7M in state grants.	$6.25M	Feb 2026	Closed
Ramaco Resources	State of WyomingWyoming	Grant for the Brook Mine processing plantState, not federal, funding.	$6.1M	2025	Closed
ElementUSA	State of Louisiana (Louisiana Economic Development)Louisiana	Performance-based grant for utility and infrastructure improvements at GramercyPart of an incentive package for an $850M facility; the company is also expected to use the Quality Jobs and Industrial Tax Exemption programs. State, not federal, funding.	$6M	Dec 15, 2025	Conditional
Rare Element Resources	Wyoming Energy AuthorityWyoming	Grant for the Upton demonstration plantState, not federal, funding.	$4.4M	2022	Closed
Vulcan Elements	Golden LEAF FoundationNorth Carolina	Grant to Johnston Community College for trainingNon-profit foundation, not government money; listed for completeness.	$3.6M	2025	Closed

Tracked state and local awards come to about $320M, excluding the $145M Alaska bond authorization, which is an authorization and not an award. Items on this list are noted on the profile pages and may be incomplete.

What wider US programs support rare earths?

Wider programs include Project Vault ($12B critical minerals stockpile), the National Defense Stockpile, the NdPr price floor, FAST-41 permitting and DOE's rare earth programs. They are not allocated to named companies, so they are not in the totals.

Federal programs that are not tied to one company
Program	Size	Date	What it is	Source
Project Vault	$12B	Feb 2, 2026	An EXIM loan of up to $10B plus private capital, reported at $1.67B to nearly $2B, for a critical minerals reserve run by VaultCo. Glencore and Mercuria were named the first participants on Sept 23, 2026; no rare earth purchase is reported.	Source
National Defense Stockpile (DLA)	Potential acquisitions	FY2025	300 t NdPr oxide, 450 t NdFeB magnet block, 60 t SmCo alloy and 1,100 t lanthanum.	Source
NdPr price floor (MP Materials)	$110/kg	Jul 2025	The Department of War pays MP Materials the shortfall when its realized NdPr price for a quarter is below $110/kg, and MP pays back 30% of any excess once 10X is at full production. It produced $51.0M of income in 2025 and $17.6M in Q2 2026. A soft floor of about the same level is in the Lynas purchase agreement.	Source
FAST-41 permitting	Process, not money	Nov 2025 to Mar 2026	Bear Lodge became a covered project on Mar 20, 2026; Sheep Creek has been on the transparency list since Nov 19, 2025.	Source
DOE rare earth programs	$209M selected	Jun to Jul 2026	Two demonstration facilities ($134M, Jun 2, 2026) and five coal-waste pilots ($75M, Jul 1, 2026) are selected for award negotiation, not awarded. The pilots come from a $275M opportunity within the nearly $1B DOE announced in Aug 2025.	Source

Program sizes are not added to the company totals above, because they are not allocated to named rare earth companies.

See the Project Vault explainer, price floor explainer, DOE funding and FAST-41 permitting.

Questions about US government support for rare earths

What mining company is Trump investing in?

The largest closed investment is the Department of Defense's $400M in MP Materials (NYSE: MP) preferred stock in Jul 2025, with a $110/kg NdPr price floor. Larger packages for USA Rare Earth, Energy Fuels and Phoenix Tailings are conditional commitments, and others are letters or loan applications.

Does the US government own part of MP Materials?

Yes. The Department of War holds $400M of convertible preferred stock and a warrant that together equal about 15% of MP Materials on a fully converted and exercised basis. It also set a $110/kg NdPr price floor and agreed to buy the output of the 10X magnet plant for 10 years. The full terms.

How much has the US government invested in rare earth companies?

This tracker lists 27 federal support rows worth $8.18B for 22 recipients, but only $873M (11%) is closed or awarded. The rest is announced, conditional, a non-binding letter or an application in review.

What is a conditional commitment?

A conditional commitment is an agency's agreement to provide money if conditions are met, such as due diligence, milestones or financial close. USA Rare Earth's up to $1.6B, Energy Fuels' $725M, Phoenix Tailings' $500M, Vulcan Elements' $620M and ReElement's $80M are conditional.

Is a letter of interest the same as a loan?

No. A letter of interest, such as EXIM's for Aclara (up to $750M), REalloys (up to $200M) and HyProMag USA (up to $92M), is a preliminary, non-binding indication. It is subject to due diligence, underwriting and authorization.

What is the NdPr price floor?

It is a $110/kg floor in the Department of War agreement with MP Materials: when MP's realized NdPr price for a quarter is lower, the Department pays the difference, and after the 10X plant reaches full production MP pays back 30% of any excess. It produced $51.0M of income in 2025 and $17.6M in Q2 2026. Lynas has a soft floor of about the same level. How it works.

Sources and verification

Each profile lists its sources, a confidence grade and a verification date. Order of authority: official records (SEC filings, agency documents), company documents and technical reports, research papers, then independent press. Syndicated copies and reference works are labeled and are never the only source for a number. Company-reported figures are labeled as such, and non-binding deals are labeled "letter of intent" or "conditional".

USA Rare Earth: Up to $277M funding plus up to $1.3B senior secured loan (Jun 3, 2026) Official record
NioCorp: Loan application (2025 to 2026) Official record
Aclara Resources: Letter of interest (Make More in America), tenor up to 15 years (Sept 4, 2026) Company document
Energy Fuels: 20-year loan commitment (Jun 2026) Official record
ReElement Technologies: Conditional loan commitment, with warrants to the Department of War (Nov 2025) Official record
Phoenix Tailings: Long-term loan commitment (Jun 16, 2026) Official record
MP Materials: Convertible preferred stock (Jul 2025) Independent press
MP Materials: Loan to extend heavy rare earth refining to samarium oxide separation (Aug 2025) Official record
eVAC Magnetics: Advanced energy project tax credit (Date not stated) Company document
Lynas USA: Binding letter of intent, oxide purchases over four years (Mar 2026) Independent press
eVAC Magnetics: Award (Date not stated) Independent press
HyProMag USA: Letter of interest (2025 to 2026) Independent press
DOE rare earth programs Official record
Vulcan Elements: CHIPS incentive for equipment, with $50M of equity to Commerce (Nov 3, 2025) Official record
ElementUSA: Defense Production Act Title III award for a gallium and scandium demonstration plant (Nov 20, 2025) Official record
ElementUSA: Selected for award negotiation with Colorado School of Mines (Rare Earth Demonstration Facility Program) (Jun 2, 2026) Independent press
Ucore Rare Metals: Other Transaction Agreement ($18.4M in May 2025 plus $4M earlier) (May 2025) Independent press
Rare Element Resources: Funding for the Upton demonstration plant (Date not stated) Official record
NioCorp: Grant (2025) Independent press
REEcycle: Defense Production Act Title III award for magnet recycling (Jan 2025) Official record
REalloys: Letter of interest (China and Transformational Exports Program) (Oct 29, 2025) Company document
ReElement Technologies: Investment (form not stated) (Jul 15, 2026) Official record
Phoenix Tailings: Selected for award negotiation (Rare Earth Demonstration Facility Program) (Jun 2, 2026) Syndicated copy
Serra Verde: Forward purchase contract with the vehicle for at least $300M of rare earth products over five years (Aug 24, 2026) Official record
Serra Verde: Senior secured loan with warrants for up to 12% of SVRE Holdings Ltd. (Feb 2026) Official record
Critical Metals Corp: Letter of interest for a 15-year term loan (Supply Chain Resiliency Initiative) (Jun 16, 2025, lapsed Jun 14, 2026) Official record
Project Vault Official record
National Defense Stockpile (DLA) Official record
NdPr price floor (MP Materials) Official record
FAST-41 permitting Official record
OSTI review, Minerals Engineering 249 (Kashyap et al., 2026) Research paper

Tags show what kind of source each link is. How sources are ranked