Pakistan Sends First Batch Of Rare Earth Elements To US In $500 Million Deal

Core Insights - Pakistan has initiated a $500 million partnership with the U.S. by shipping its first batch of enriched rare earth elements and critical minerals to the United States, marking a significant development in the Pakistan-U.S. relationship [1][3] - The partnership involves a Memorandum of Understanding (MoU) signed in September between Pakistan's Frontier Works Organisation (FWO) and U.S. Strategic Metals (USSM) to establish a poly-metallic refinery in Pakistan [2] - The inaugural shipment included antimony, copper concentrate, and rare earth elements such as neodymium and praseodymium, which are crucial for various industries [4] Industry Developments - The U.S. is actively working to strengthen its domestic critical minerals supply chain to reduce reliance on China, with the Department of the Interior proposing an overhaul of its critical minerals list in August 2025 [5] - The U.S. Department of Energy plans to allocate nearly $1 billion in funding to enhance mining, processing, and manufacturing capabilities for critical minerals, aligning with national security and economic stability goals [6] Company Activities - Micro-cap explorer Lithium Corp has reported a significant discovery of enriched deposits of rare earth elements at its British Columbia fluorspar project, resulting in a share price increase of over 900% [7] - USA Rare Earth Inc. is set to acquire U.K.-based Less Common Metals to expedite its mine-to-magnet strategy, which aims to create a comprehensive rare earth supply chain and support its magnet manufacturing facility in Oklahoma [8]