India, Aug. 11 -- The US Defense Department's Office of Strategic Capital has announced the recent execution of its first direct loan to strengthen the U.S. industrial base and protect critical minerals supply chains.
As part of a wider agreement between DoD and MP Materials, OSC provided a $150 million loan to the operator of the U.S. rare earths mine to add heavy rare earth separation capabilities to its existing processing facility in Mountain Pass, California.
The funding for OSC's $150 million loan to MP Materials comes from the One Big Beautiful Bill Act, which President Trump signed into law on July 4, 2025. The bill provides OSC with $500 million of credit subsidy funding, creating up to $100 billion in available loan funds specif...