#US Defense Department to buy #Cobalt for up to $500 million

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A technician inspects cobalt materials in a storage facility, with American flags and military equipment visible in the background.

By Reuters

Aug 21 (Reuters) – The U.S. is seeking to procure cobalt worth up to $500 million for defense stockpiles amid the country’s move to boost its critical mineral supplies.

Companies have been scrambling to source rare earths after China imposed restrictions, leading to a 75% drop in rare earth magnet exports from the country in June and causing some auto companies to suspend production.

Read more at: https://www.reuters.com/world/us/us-defense-department-buy-cobalt-up-500-million-2025-08-21/

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