US Army signs non-binding memorandum of understanding with REalloys to build rare earth processing facility
ALOY REalloys Inc
$6.21 -9.34%
View chart & analysis → - 1The US Army has signed a non-binding memorandum of understanding with REalloys to build a rare earth processing facility on a 200-acre site at Tooele Army Base in Utah.
- 2The agreement can be maintained for up to 75 years, including an initial 50-year lease term with a 25-year extension option.
- 3REalloys has secured approximately 80% of the output from the expanded facility through cooperation with Canada's SRC.
So what's the key point?
The US Army has committed to building a facility for processing rare earth elements with REalloys. Through this agreement, REalloys has secured 80% of the facility's production.
Source Oilprice.com +1 · View original ↗
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