US Strategic Minerals Push Advances Despite Diplomatic Tensions
The Trump administration is moving forward with a $50 million investment in South Africa's Phalaborwa Rare Earths Project, prioritizing critical mineral access over recent diplomatic friction. The International Development Finance Corporation is backing the project through partner TechMet, targeting extraction of essential rare earth elements including neodymium and dysprosium starting in 2028. This initiative reflects Washington's broader strategy to reduce dependence on China for minerals crucial to defense systems, electric vehicles, and advanced electronics. The project will process 35 million tons of mining waste over 16 years, with production aimed primarily at US markets.
MA
Sunday, April 19, 2026 at 9:20 AM
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