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The Biden administration taken another step to ease China’s current stranglehold on the rare earth element (REE) sector.
These elements are a crucial ingredient in the manufacture of products for both civilians and the defense sector. Rare earths make their way into smartphones, computer hard drives, medical imaging equipment, electric vehicles, and missiles, aircraft guidance and control systems, radars, and more.
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DOE awards $19M toward rare earths, critical minerals production
The US Department of Energy (DOE) recently earmarked US $19 million to fund 13 projects to produce REEs and critical minerals.