Senators Elizabeth Warren, Chris Van Hollen and Ron Wyden are pressing Commerce Secretary Howard Lutnick for more information on the USA Rare Earth deal.
USA Rare Earth's CEO provided rare insight in an interview with CNBC's Brian Sullivan into how the federal government plans equity stakes in mining companies.
The capital infusion will help USA Rare Earth advance its plan for a magnet manufacturing plant and a mine at a rare earth deposit in Texas called Round Top.