DOE awards $19m to fund 13 rare earth projects

Posted By : Telegraf
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While the US and its allies continues to trail China in the crucial rare earth element (REE) sector, things are beginning to happen on this front.

According to a report in Mining Technology, the US Department of Energy (DOE) has awarded US $19m to fund the development of 13 projects to produce REEs and critical minerals essential in the manufacture of batteries and magnets.

REEs are used as critical components across several industries, ranging from electric vehicles to smartphones. They are vital for satellites, missile guidance systems, missile defence systems and more.

The new funding is expected to help the US accelerate its rare earth elements production as it aims to reduce its dependence on China due to strained trade relations, the report said.

China produces around 70% of the world’s REEs.

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