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7/13/2017 by mdc
In a report accompanying the National Defense Authorization Act for Fiscal Year 2018, the Senate Armed Services Committee, strongly encourages the Department to make use of existing authorities, to enter into commitments to purchase strategic and critical materials, from U.S. domestic producers that the Department believes are likely to initiate commercial production of such materials within the next five years.

Significantly, the Committee has additionally provided $39.6 million in funding for the Army Research Laboratory for materials technology research, including $10 million directly for development of strategic materials technologies.

The U.S. government continues to showcase an increased awareness of the need to flex its market power to support domestic production of rare earth elements and other critical materials, said Jim McKenzie, President & CEO of Ucore. Combined with the previous Department of Energy REE project championed by Senators Joe Manchin and Lisa Murkowski, as well as the METALS Act and subsequent NDAA amendment introduced by Representative Duncan Hunter, it is clear that the U.S. Congress is fully aware of the precarious situation for REE and other strategic and critical materials now faced by the US Department of Defense.

We believe that Molecular Recognition Technology, an innovative American-based green technology pioneered by IBC Advanced Technologies, Inc. of Utah, is a leading competitive platform for domestic REE development opportunities offered by the Department of Defense, said Steven R. Izatt, President & CEO of IBC. MRT offers a platform for U.S. domestic production of REE and REE-containing products in a global market that is currently dominated by Chinese suppliers. They welcome the initiatives set out in the National Defense Authorization Act, and look forward to the advancing this remarkable technology.

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