The U.S. Energy Department is allocating up to $60 million for two critical mineral programs aimed at enhancing domestic resource development and reducing reliance on foreign sources. One program focuses on improving the evaluation timeline for ore deposits, while the other utilizes AI and high-throughput experimentation to innovate new rare earth magnets. This initiative aligns with efforts to bolster U.S. energy and economic security, responding to the challenge posed by dependency on foreign minerals, particularly from China, which dominates the rare earth sector.

Source: https://www.supplychaindive.com/news/energy-department-60m-two-critical-mineral-programs/759056/