The Pentagon- and Toyota-backed startup trying to cut US reliance on China iron

What happened: Hertha Metals has broken ground on a full-scale plant in Texas to make a key ingredient for high-performance magnets in the U.S. instead of China. Why it matters: The company is backed by the Pentagon and Toyota, and the plant aims to cut U.S. reliance on China for rare-earth magnet material.

Pentagon and Toyota backing signals strategic US effort to reduce China iron reliance.

Pentagon and Toyota backing signals strategic US effort to reduce China iron reliance. — impact context not separately stored; see What changed.