Story perspectives

Army Grants Critical Mineral Leases to Four U.S. Firms

6/26/2026

Summary

Army Grants Leases

The U.S. Army granted Use Leases to Titan Mining, Energy X, Ioneer USA and REalloys.
The leases target graphite, lithium, boron, dysprosium and terbium at Anniston (AL), Pine Bluff (AR), Red River (TX) and Tooele (UT).
Development is planned for 2027 with operations in 2028, while the Army retains title.
Lessees must be U.S. entities, follow Davis-Bacon/Buy-American rules, and complete NEPA, Clean Air Act and Clean Water Act reviews before construction.

Summary

Army Approves Loans

Army’s office approved $1.2 billion in loans—$725 million to Energy Fuels and $500 million to Phoenix Tailings—while Energy Fuels announced a $1.9 billion purchase of German magnet maker Vacuumschmelze.
Titan Mining, backed by Canadian billionaire Richard Warke, saw its shares jump 12% and ioneer’s depositary receipts rise over 7% after the deals.
China’s Department imposed export controls on MP Materials Corp. and USA Rare Earth Inc., prompting the G7 to pledge to cut reliance on Chinese critical-mineral imports.

History

Historical Context

President George H.W. Bush signed the Energy Policy Act of 1992, which first listed rare-earth elements as strategic materials for national security. The law let the Department of Defense fund domestic mining, spurring early projects by firms such as Molycorp. Decades later, the Army’s contract awards to Titan Mining, Energy Fuels, Ioneer USA and REalloys echo that strategy to lessen reliance on Chinese supplies.

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Army Grants Leases

The U.S. Army granted Use Leases to Titan Mining, Energy X, Ioneer USA and REalloys.
The leases target graphite, lithium, boron, dysprosium and terbium at Anniston (AL), Pine Bluff (AR), Red River (TX) and Tooele (UT).
Development is planned for 2027 with operations in 2028, while the Army retains title.
Lessees must be U.S. entities, follow Davis-Bacon/Buy-American rules, and complete NEPA, Clean Air Act and Clean Water Act reviews before construction.

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