Mentioned:
The United States Army is taking a new approach towards securing domestic rare earth processing. And they’re collaborating with REalloys to do it.
What’s happening:
- REalloys (NASDAQ: ALOY) has signed a non-binding term sheet with the United States Army for a 50-year lease at the Tooele Army Depot located in Utah
Why it matters:
- The United States Army has selected REalloys to develop a rare earth separation facility directly at the Tooele Army Depot which would refine dysprosium and terbium
Going deeper:
- The initial lease term Is 50-years with a 25-year renewal subject to the approval of the United States Army
- REalloys has publicly stated that they will operate on 200 acres of land at the Tooele Army Depot and will develop, finance, build and operate the rare earth processing plant
The intrigue:
- Blackstone and Citadel previously made waves when they led a $100M USD equity financing round for REalloys at $14.25 USD per share
