Rare

Feb. 2 (UPI) — President Donald Trump plans to launch a $12 billion stockpile of rare earth minerals to curb U.S. dependence on China.

The project is called Project Vault and it will be funded by a $10 billion loan from the U.S. Export-Import Bank and about $1.67 billion in private capital.

Trump’s plan seeks to procure and store rare-earth minerals that are critical to the automotive, defense, and tech industries. Minerals would be stored for use by U.S. manufacturers.

Some critical minerals that are of interest to tech companies and electric vehicle manufacturers include cobalt, lithium, titanium, silicon, nickel and graphite.

Rare earth minerals have been a focus of Trump’s during his second term. The White House said the United States was reliant on imports of minerals in 2024. Trump has since used mineral acquisition as a key point of international negotiations.

The president has also eyed Greenland for its mineral deposits. He recently alluded to invading Greenland and raising tariffs but walked back that rhetoric at the World Economic Forum last month.

Some companies that are expected to be involved in the Project Vault stockpile include General Motors, Stellantis, Boeing and Google.

Fans claim it is the best period drama since Mad Men

A captivating period drama with a rare 100% Rotten Tomatoes rating might be the perfect addition to your mid-week watchlist.

BBC iPlayer is currently streaming Australian hit drama, The Newsreader, which stars Mindhunter actress Anna Torv and Interview with the Vampire’s Sam Reid.

The duo are part of a competitive team of journalists in a 1980s Australian newsroom, with Torv playing the channel’s first female newsreader, Helen Norville.

After fighting various barriers to make her way to the top, Helen gets paired up with producer Dale Jennings (Reid).

Viewers are then thrust into the duo’s personal and professional lives as they cover major historic events such as Halley’s Comet and the AIDS crisis.

Created by Michael Lucas, the workplace drama debuted in 2021 and aired for three seasons. Each instalment earned overwhelming praise from critics and casual viewers alike.

Rotten Tomatoes reviewers awarded the drama a perfect 100% score for its first two seasons, with no score available yet for the third instalment.

Torv and Reid were showered with praise following the release, with one IMDB user raving: “The biggest news to come from the Aussie drama ‘The Newsreader’ is that Sam Reid (Dale Jennings) is sensational.”

“I suggest that his career is about to take off epically. I could see him as the next James Bond!”

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Someone else agreed: “The Newsreader is a brilliantly acted and written drama series. I absolutely love TV shows that are based around historic events and this is the best example since Mad Men.”

While a third fan shared their detailed verdict: “I consider this show a bit of a hidden gem, especially because I discovered it completely by coincidence. It’s difficult to put into words what an intense viewing experience it is.

“The backdrop setting of a 80’s newsroom is so delicious it feels like it could have been written for me personally. The rise and decay of these characters, especially the two leads BRILLIANTLY portrayed by Anna Torv and Sam Reid, is extremely captivating.”

The Newsreader is streaming now on BBC iPlayer.

Jan. 26 (UPI) — Critical minerals startup USA Rare Earth announced Monday that the Department of Commerce will give the company a $1.3 billion loan and $277 million in federal funding.

USA Rare Earth will issue Commerce 16.1 million shares of common stock and 17.6 million in warrants. The federal government will have an 8% to 16% stake in the company, depending on whether it uses the warrants, a filing with the Securities and Exchange Commission said.

USA Rare Earth shares rose more than 20% Monday after the announcement, CNBC reported.

The injection of funds will help the company build a magnet manufacturing plant in Stillwater, Okla., and a mine at the Round Top mineral deposit in Sierra Blanca, Texas.

CEO Barbara Humpton said the government deal will turn USA Rare Earth into an industry leader.

“This is a watershed moment in our work to secure and grow a resilient and independent rare earth value chain based in this country,” CNBC reported that Humpton told analysts Monday.

“We have long said that meeting the urgent call to reassure the rare earth and critical minerals industry will require a multiplayer solution, and this establishes our company as one of the leaders,” she said.

Commerce will allocate the funding from 2026 through 2028 based on milestones in USA Rare Earth’s business plan, Chief Financial Officer Rob Steele told analysts.

The company needs about $4.1 billion for its plan, he said. It still needs to raise about $600 million more capital.

“We believe we can raise the remaining capital from attractive sources, and you should assume that’s equity capital but that can come from strategic investments as well as institutional investors,” Steele said.

China dominates the global supply chain of rare earth materials. During trade disputes with President Donald Trump, Beijing tried to cut off rare earth exports.

“USA Rare Earth’s heavy critical minerals project is essential to restoring U.S. critical mineral independence,” Commerce Secretary Howard Lutnick said in a statement. “This investment ensures our supply chains are resilient and no longer reliant on foreign nations.”

“The Department of Energy is ending America’s reliance on foreign nations for the critical materials essential to our economy and national security,” said U.S. Energy Secretary Chris Wright in a statement. “The DOE is partnering with USAR to rebuild the critical minerals supply chain. By expanding domestic mining, processing and manufacturing capabilities, we are creating good-paying American jobs and safeguarding our national security.”

“Accelerating the onshoring of rare earth minerals, metals, and magnets is paramount to national and economic security,” U.S. Investment Accelerator Executive Director Michael Grimes said in a statement. “With the Department of Commerce’s funding for USA Rare Earth’s vertically integrated mine-to-magnet operations, we will significantly increase the domestic supply of crucial components for semiconductors, defense and numerous other industries strategic to the United States.”