Phoenix Tailings Inc., a US mining startup, receives a conditional commitment for $500 million in long-term debt financing from the Pentagon’s Office of Strategic Capital. The funds are intended to support construction of a domestic rare-earth processing facility, focused on refining rare-earth elements in the United States. Bloomberg and the Financial Post both report that the financing is conditional, indicating that additional requirements must be met before the loan is finalized and disbursed. Both outlets frame the move as part of broader US government efforts—linked to the White House—to expand domestic production and processing capacity for rare-earth materials. The Pentagon funding is presented as a long-term loan rather than direct grants, and it is described as being tied specifically to building the processing plant. The reports do not specify additional conditions, timelines, or plant location details in the excerpts provided. Overall, the two sources agree on the company name, the amount and type of financing, the Pentagon office involved, and the purpose of the investment: developing US-based rare-earth processing capacity.