US Army: Talks on Rare Earth Lease
US Army selects company for talks on long-term lease to build rare earth processing facilities at Tooele Army Depot
Conditionally selected to negotiate a long-term Enhanced Use Lease to design, finance, build and operate heavy rare earth processing facilities at Tooele Army Depot in Utah. - Planned facilities would refine dysprosium and terbium for high-temperature permanent magnets used in precision-guided munitions, electric motors, sonar, radar networks and other systems. - Development is slated to begin as early as 2027, with Initial Operating Capability targeted no later than 2028; final agreements and environmental and regulatory reviews remain required.