Hunter Introduces H.R. 1407 METALS Act to Curtail U.S. Dependence on Foreign-Sourced Strategic and Critical Materials http://bit.ly/2nzQSoH
Eutectix supports H.R. 1407 to incentivize the U.S. military to obtain rare earth materials made in America.
Eutectix operates factories in Arizona and Michigan that manufacture rare earth materials critical to military and industrial manufacturing. Eutectix acquired these facilities after market factors drove both predecessor companies to bankruptcy leaving China as the dominant supplier.
Eutectix has retained our capability for making these products, but has lost a substantial amount of our magnet alloy powder and rare earth conversion businesses. Eutectix currently makes many other high purity alloy products, such as superalloy rods or master alloys and hydrogen storage alloys.
Eutectix acquired facilities in Troy, Michigan from the Canadian junior mining concern, Great Western Minerals Group, Ltd in May, 2014. In April of 2016, we acquired the former MolyCorp Metals and Alloys plant in Tolleson, Arizona. The Tolleson plant had ceased operating in December of 2015 and had been busy processing samarium cobalt (SmCo) magnet alloy powders and iron neodymium boron (FeNdB) magnet powders. Eutectix has production capability to convert rare earth (and scandium) oxides and fluorides to high purity metal in its Tolleson plant.
We support the notion that the U.S. must increase its competitiveness in the market for rare earth elements and advanced materials.
We urge congress to take meaningful action to
- reduce rare earth materials supply risk
- level the playing field for rare earth materials and value added products made from them