ReElement Technologies, a US rare earth elements and critical minerals refiner, has received a letter of intent worth up to $150 million from the US Export-Import Bank to expand its rare earth refinery in Indiana. American Resources Corporation, an investor in the company, stated that the funding will support ReElement in expanding its capacity to refine rare earth oxides and compounds, including neodymium, dysprosium, terbium, samarium, yttrium, and gadolinium, achieving a purity of 99.5%. ReElement owns and operates a 700 m² commercial validation facility in Noblesville, Indiana, primarily producing rare earth oxides and critical battery elements.