• US $145M AIDEA bond financing authorization by the AK legislature (SB 99, 2014) for the Bokan Project infrastructure and construction costs
• Additionally, AIDEA and Ucore are currently in discussions regarding a separate AIDEA investment for the development and operation of the Alaska SMC
• AK Governor Michael Dunleavy has recently expressed strong support for rare earth development in Alaska
  [Video clip – see minutes 39:00 to 41:45]

The Biden Administration:

• On February 24, 2021, issued an Executive Order directing an immediate 100-day review across federal agencies to address vulnerabilities in the supply chains.  The corresponding Fact Sheet included:
  • “From rare earths in our electric motors and generators to the carbon fiber used for airplanes—the United States needs to ensure we are not dependent upon foreign sources or single points of failure in times of national emergency.”

DOE’s Advanced Technology Vehicles Manufacturing Loan Program

• The ATVM program may support projects that include the processing or manufacturing of critical minerals in support of eligible vehicles.

DOD’s National Defense Authorization Act (FY2021), REE highlights:

• to use REE mined and refined entirely outside of China within five years
• directs the USG to prefer US suppliers of strategic and critical materials in the acquisition process
• requires the USG to make several assessments on the best actions to improve the domestic availability of REE, such as investments through the Defense Production Act or restrictions on foreign suppliers