Two giant sand-like mounds at an old chemical processing plant in South Africa are at the center of an exploratory US-backed project to extract highly sought-after rare earth elements from industrial mining waste.
The Phalaborwa Rare Earth Project is supported by the US through a US$50 million equity investment by the government's International Development Finance Corporation and is part of accelerated US efforts to reduce its dependence on China for critical minerals to make electronic components, robotics, defense systems, electric vehicles and other high-tech products.
Countries have identified dozens of minerals as critical, including copper, cobalt, lithium and nickel because they are essential to new technologies. The 17 rare earth elements are a subgroup of them.
President Donald Trump has expanded US access to critical minerals, including rare earth elements. The Trump administration said it would deploy about US$12 billion this year to build up its strategic reserve.
The Development Finance Corporation (DFC) was first created during the Trump administration and made its investment in the Phalaborwa project in 2023 under former US President Joe Biden.