The U.S. Defense Logistics Agency plans to purchase $40 million worth of scandium oxide from Rio Tinto to secure supplies for the national stockpile. China’s export controls on rare earth elements prompted the acquisition, with the U.S. seeking 6.4 metric tons of scandium oxide in five years.

Rio Tinto is the only vendor capable of meeting the government’s scandium oxide needs. The company is collaborating with the U.S. government to enhance domestic production and strengthen American supply chains. Rio Tinto’s innovative process extracts high-purity scandium oxide from waste streams, positioning them to support America’s future needs.

Read more at Yahoo Finance: US agency wants to buy scandium oxide from Rio Tinto for defence stockpile