The US government invested $50 million in a South African rare earths extraction project through the DFC.
The International Development Finance Corporation committed $50 million to the Phalaborwa Rare Earths Project in South Africa, operated by Rainbow Rare Earths via partner TechMet. The project aims to extract rare earth elements from 35 million tons of phosphogypsum waste beginning in 2028. The investment continues despite a diplomatic rift between the Trump administration and South Africa.
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Divergence score
2 outlets covered it, splitting into 2 framing camps across 1 bias group.
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1 bias group
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AP News
PBS NewsHour
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