Pentagon commits $500M to Phoenix Tailings for rare-earth facility

Key facts

• Phoenix Tailings, a mining startup, received a conditional commitment for $500 million in long-term debt financing.
• The financing comes from the Pentagon's Office of Strategic Capital.
• The funds are intended for the construction of a domestic rare-earth processing facility.

Phoenix Tailings, a startup focused on mining, has been granted a conditional commitment for $500 million in long-term debt financing. The funding originates from the Pentagon's Office of Strategic Capital and is intended to facilitate the construction of a domestic rare-earth processing facility. This development highlights efforts to bolster domestic supply chains for critical minerals.