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Anthony Balladon highlights Phoenix Tailings' role in securing U.S. critical minerals to reduce Chinese influence

Anthony Balladon, co-founder of Phoenix Tailings, stated that the company is working to expand its capacity to extract critical minerals from mining waste. The administration announced a $500 million loan from the Pentagon to help the company build a new factory, which will take 14 to 18 months to complete. This expansion aims to break China's near-monopoly on processing critical minerals like neodymium and samarium, which are essential for U.S. weapons systems such as F-35 fighter jets and Tomahawk cruise missiles. To support this goal, the administration announced a new executive order on July 20 that restricts defense contractors from sourcing critical-mineral components from China. The order also limits the Pentagon's ability to issue waivers for imports from China, Russia, Iran, and North Korea. While some analysts suggest that the transition may cause short-term challenges for contractors, the administration announced that the move is a long-overdue enforcement crackdown designed to ensure long-term national security. The company aims to achieve a 120-ton capacity by 2028 to ensure the Western Hemisphere remains free of Chinese influence.

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