The loan will fund construction of a state-of-the-art on-site processing facility for the Rhyolite Ridge Lithium-Boron Project, which is aiming to begin production in 2028.
The Asian nation, which controls 70% of the mined material and 90% of refining capacity, produced 240,000 tons of rare earth oxide equivalent ... neodymium-iron-boron (NdFeB) magnets a year.