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US Looks to Invest in Rare-Earth Firms in Race With China
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US Looks to Invest in Rare-Earth Firms in Race With China
(Bloomberg) — The Commerce Department and Pentagon in November pledged financing and potential equity stakes in a domestic producer of rare-earth magnets that are at the center of a trade war with China, the world’s dominant supplier. Commerce signed a non-binding, preliminary letter of intent to provide $50 million from the 2022 CHIPS Act to Vulcan Elements to purchase equipment needed to produce so-called permanent magnets used in fighter jets…
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