Agency / program

Office of Strategic Capital

DoD's credit office; since late 2025 the largest source of federal loan commitments to the rare earth chain, all conditional until disbursement conditions are met.

Facts on this page last re-verified Aug 11, 2026 — the oldest verification date among its current claims. How we verify.

Agency: U.S. Department of Defense / Department of War
Authority: 10 U.S.C. 149 (Office of Strategic Capital credit authorities)

Linked instruments

Office of Strategic Capital $620 million direct loan to Vulcan Elements

Loan

Office of Strategic Capital $80 million direct loan to ReElement Technologies

Loan

Office of Strategic Capital $500 million conditional loan commitment with Phoenix Tailings

Loan

Office of Strategic Capital $725 million conditional loan commitment with Energy Fuels

Loan

Sources

U.S. Department of War · published Nov 21, 2025 · retrieved Aug 11, 2026 · archive