The Biden administration has announced a domestic plan for processing and refining minerals that are critical to modern technologies. It comes as part of an effort to reduce the United States’ dependence on China, according to a White House release on Feb. 22.
The plan includes a $35 million award from the Department of Defense to MP Materials. Those funds will go toward upgrading the mining company’s California facility to separate and process rare earth minerals like cobalt and lithium. This comes with a pledge that the company will invest $700 million into the plan that will create 350 manufacturing jobs.
