SoFi Launches Big Business Banking to Power Fiat and Crypto Banking on a Single Regulated Platform - Business Wire

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Josh Owens is the Content Director at Oilprice.com and a veteran energy journalist with over a decade of experience covering global energy markets and geopolitics.… Last year, America needed roughly 48,000 metric tons of the most common rare earth magnet, and domestic sources supplied just 300 tons. The rest had to come from somewhere else, and China makes more than 90% of the world's supply. To make matters worse, in January, that supply gets cut from both directions. On January 1, the Pentagon's ban on Chinese magnets in its supply chain takes effect, and just nine days later, China's toughest rare earth rules could snap right back into place. That’s exactly the problem REalloys (NASDAQ: ALOY) has been working to help solve. The company is building a heavy rare earth supply chain outside of China, from processing in Saskatchewan to metal-making in Ohio. To understand why that's such a problem for America's defense contractors, you have to start with what the Pentagon is actually seeking. The Pentagon’s Changes Start January 1For years, the Pentagon has had a rule that keeps Chinese magnets out of the weapons it buys, known as DFARS.