Key facts
- The U.S. is investing in domestic rare earth processing and magnet manufacturing.
- The U.S. aims to reduce reliance on China for rare earth elements.
- REalloys is a key player in building the 'missing midstream' of the rare earth supply chain.
- REalloys is focusing on heavy rare earths like dysprosium and terbium.
- Fast Metals is developing a process to extract critical minerals from red mud.
- Fast Metals extracts titanium and rare earth elements from aluminum refining byproduct.
- Fast Metals has raised $4.3 million in pre-seed funding.
- Fast Metals uses a waste stream to make its extraction process economical.
The United States is actively working to rebuild its domestic rare earth supply chain, with a strategic focus on reducing its dependence on China. A significant part of this effort involves investing in domestic rare earth processing and magnet manufacturing. REalloys is identified as a key player in this initiative, having secured contracts and partnerships to develop the crucial 'missing midstream' segment of the supply chain. The company's focus is specifically on heavy rare earths, including elements like dysprosium and terbium, which are vital for advanced technologies.