AP News reporter Michelle Chapman writes about how the U.S. government is stepping directly into the rare earths market.
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The Commerce Department is taking a minority stake in USA Rare Earth, backing a Texas mining project and an Oklahoma magnet facility as part of a broader push to secure domestic sources of materials used in EVs, electronics, and defense systems.
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The move reflects growing urgency in Washington to reduce reliance on China, which dominates global rare earth processing, and follows a string of recent federal investments aimed at rebuilding U.S. mineral and manufacturing capacity.
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