The US Army is set to host critical mineral processing plants at military bases across the country, as part of a push for increased domestic production.
Several companies, including REalloys Inc., Titan Mining Corp., ioneer Ltd., and Energy Exploration Technologies Inc., have reached agreements with the Pentagon to build the plants.
The new facilities will handle rare earth minerals, graphite, lithium, and boron, and are expected to reduce the US's reliance on imports, particularly from China.
The initiative is part of a broader effort by the Trump administration to boost critical minerals production and reduce the country's reliance on foreign imports.
Shares of Titan Mining and ioneer rose significantly following the announcement, while REalloys pared some of its earlier losses.
The Pentagon and the companies involved declined to comment on the matter.
