A major new facility for processing rare earth minerals is set to be constructed in New York state, with an investment of $375 million. The project, announced by Phoenix Tailings, aims to establish a critical domestic supply chain for materials essential to advanced technologies, including electronics and clean energy systems. Rare earth elements, though vital for modern manufacturing, currently rely heavily on imports, making this development a potential step toward reducing dependency on foreign sources. The facility’s construction could also create jobs and stimulate economic activity in the region.
Phoenix Tailings to build $375-million rare earths facility in New York state By Reuters Investing.com
