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The United States of America needs to ramp up domestic rare earth element production. And it’s fuelling a boom in both the public and private markets.
What’s happening:
- REalloys has officially acquired rare earth metals producer PMT Critical Metals in a new all stock deal
Why it matters:
- PMT Critical Metals is one of the most advanced producers of magnet materials in the United States of America and has existing contracts with both the Untied States Defense Logistics Agency and the United States Department of Energy
Going deeper:
- PMT Critical Metals produces rare earth metals and high performance neodymium iron boron magnet materials at their facility located in Euclid, Ohio
- REalloys owns the Hoidas Lake Rare Earth Project located in Saskatchewan, Canada which contains significant amounts of rare earth elements including neodymium, terbium and praseodymium
- REalloys’ acquisition of PMT Critical Metals is aiming to create a full mine-to-magnet supply chain for domestic rare earths, which are becoming increasingly important for both defense and technology
The intrigue:
- China just recently made political waves when they announced they would begin restricting the exportation of certain rare earth elements globally, which has been fuelling American publicly listed companies such as USA Rare Earth (NASDAQ: USAR) to ramp up their manufacturing capabilities
