Rare earths company REalloys (ALOY.O), opens new tab has been awarded a U.S. Department of Defense contract worth up to $1.7 million to fund design of a processing facility for metals used to make magnets for weapons and electronics, it said on Monday.
The U.S. Defense Logistics Agency (DLA) plans to purchase up to $40 million worth of scandium oxide over the next five years from a Rio Tinto unit to bolster the national defense stockpile.
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