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US$50 Million DFC Investment Backs South African Rare Earth Extraction Project
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Business·4/19/2026AI summary

US$50 Million DFC Investment Backs South African Rare Earth Extraction Project

The Phalaborwa Rare Earths Project in South Africa received a US$50 million equity investment from the US International Development Finance Corporation, part of accelerated US efforts to secure critical minerals independent of China. The project extracts rare earth elements from industrial mining waste at a former chemical processing plant. The Trump administration plans to deploy nearly US$12 billion to create a US strategic reserve for critical minerals essential for electronics, EVs, robotics and defence systems.

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