Rare earth magnet company, critical mineral refinery strike deal with DOD, Commerce

North Carolina-based rare earth magnet maker Vulcan Elements and critical mineral refinery ReElement are teaming up with the federal government on a $1.4 billion partnership to scale up the companies’ domestic rare earth magnet supply chain, Inside Defense reports. The Defense Department will receive warrants -- options allowing the federal government rights to purchase a company’s stock for a predetermined price at a later date -- in both companies and the Commerce Department will receive $50 million of equity...