Rare Earth

Neotech Metals (NTMFF) has begun its maiden drilling program at its 100%-owned TREO project in British Columbia’s Wicheeda Rare Earth District. The program targets high-priority zones identified by previous sampling, which yielded up to 28.97% TREO and 2.91% Nb₂O₅. Drilling aims to assess mineralized pathways and their relation to Defense Metals’ Wicheeda deposit. This marks a critical step in exploring the area’s resource potential.

Here’s the concise English summary (94 words):

The Pentagon acquires a $400 million strategic stake in Mountain Pass Materials, becoming the largest shareholder in America’s sole integrated rare earth producer. Securing 15% ownership via convertible preferred shares, the deal includes price-protected 10-year supply agreements and potential future investments to strengthen domestic mineral supply chains. Concurrently, Mountain Pass announced plans to build a rare earth magnet plant by 2028, expanding capacity to 10,000 tons annually for EV and defense needs. The transaction, supported by $1.15 billion in strategic funding from Wall Street banks, aims to solidify U.S. critical mineral independence.