Trump administration and private investors sign off on $1.4 billion deal with rare earth startups

WASHINGTON (AP) — The Trump administration and private investors are partnering with two rare earth startups in a $1.4 billion deal to scale up the nation's access to materials and technology that is crucial for producing an array of high-tech goods and military equipment.

The investment in Vulcan Elements and ReElement Technologies is the latest stake taken by the U.S. in a handful of private companies — including another rare earths company and chipmaker Intel — since President Donald Trump began his second term in January. The White House has made it a priority to bolster the nation's supply chain in a market dominated by China.

Vulcan Elements manufactures rare earth magnets, while ReElement processes rare earth mineral ores and recycles old batteries and other products made with rar