Pentagon Halts Funding for Two Rare Earth Projects as One Links to Chinese Ownership

  • May 23, 2020 AEST
  • Team Kalkine

The United States Department of Defense has put a hiatus on the funding for two rare earth projects, one of which as per the official documents is linked to China.

  • The decision from the Pentagon came in light as a backdrop against the United States President plan to resurface the domestic rare earth supply chain and reduce the dependency on China.
  • On 22 April 2020, the ASX-listed Lynas Corp (ASX:LYC) and MP Materials- A U.S- based firm confirmed that they had received funding from the Pentagon; however, some minority stake of a Chinese firm in MP Materials has raised concern.


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