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fromTruthout
1 week ago

Trump Jr.-Backed Company Receives $620 Million Pentagon Loan

The Financial Times reported on Wednesday that Vulcan Elements - a tiny startup of 30 employees that specializes in producing rare-earth magnets used in drones, radars, and other pieces of military equipment - has scored a $620 million loan from the Pentagon as part of "a $1.4 billion deal to increase the supply of magnets for industries alongside partner ReElement Technologies."
US politics
fromTechCrunch
1 week ago

Company backed by Donald Trump Jr.'s firm nabs $620M government contract | TechCrunch

Vulcan Elements, a rare-earth magnets startup backed by Donald Trump Jr.'s VC firm 1789 Capital, has secured a $620 million contract from the U.S. defense department, as reported by the Financial Times. The contract is part of a $1.4 billion partnership with the U.S. Government and ReElement Technologies to expand and boost the domestic supply of magnets, according to the company. Trump Jr. joined 1789 Capital as a partner in 2024.
Business
US politics
fromThe Atlantic
3 months ago

While China Builds, America Litigates

Trump's tariffs on China were reversed after Beijing suspended exports of rare-earth magnets, which are vital for global automotive production.
US politics
fromFortune
4 months ago

Trump teases 'not too distant' China visit amid thaw in trade war and rare earth shipments

Trump aims to strengthen U.S. ties with the Philippines while also emphasizing positive relations with China.
Apple
fromFortune
4 months ago

Apple is pre-bunkering against China with its $500 million deal to buy American rare-earth magnets

Apple strikes a $200 million deal with MP Materials for American-made rare-earth magnets and a recycling facility, signaling a significant shift in supply-chain strategy.
NYC startup
from24/7 Wall St.
6 months ago

Stock Market Live June 9: London Talks to Drive Markets This Week, S&P 500 (VOO) Starts Flat

U.S. and China trade representatives are meeting to discuss restrictions on rare earth magnet exports.
Major market indices saw gains again last week, with cautious trading expected this week.
Earnings reports were slow, but Graham Corporation exceeded profit expectations, boosting its stock.
fromTheregister
7 months ago

Tesla's Optimus robot trips over China export licensing

We're working through that with China. Hopefully, we'll get a license to use the rare earth magnets. China wants assurances that these are not used for military purposes, which obviously they're not.
Toronto startup
US news
fromwww.nytimes.com
8 months ago

Monday Briefing: China Pauses Crucial Exports

China's export suspension on rare earth magnets disrupts global industries and exacerbates the trade war with the U.S.
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