Phoenix Tailings has raised $40.2 million in a funding round to enhance its production capabilities of rare earth metals, bringing total Series B funding to $116.6 million. The investment will allow the company to expand its production beyond neodymium-praseodymium, dysprosium, and terbium to include additional critical metals. This funding aims to strengthen the domestic supply chain for rare earths, crucial for various sectors including energy and defense.
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