U.S. Supports South African Rare Earth Extraction Project Amid Diplomatic Strains
The U.S. has committed $50 million through its International Development Finance Corporation to support the Phalaborwa Rare Earths Project in South Africa. This project aims to extract rare earth elements from mining waste, a move to reduce U.S. dependency on China for these critical minerals. Despite a diplomatic rift with South Africa, the project is advancing, reflecting the U.S.'s strategic focus on securing mineral supplies crucial for electronics, defense, and renewable energy technologies. The project, led by Rainbow Rare Earths, plans to begin extraction in 2028, utilizing renewable energy to lower costs and environmental impact. 
