HIGHLIGHTS

• James discovered rare earths while reviving a bankrupt mine.
• The U.S. lacks the capabilities to mine and refine rare earths.
• National security is at risk due to reliance on foreign sources.
• Caldera has a permitted mine with proven resources in Missouri.
• The company can produce significant amounts of heavy rare earths.
• Economic viability is supported by reprocessing existing tailings.
• Partnerships with government and defense contractors are crucial.
• The Pentagon's past decisions have affected the rare-earth market.
• Caldera aims to meet a substantial portion of U.S. demand by 2028.
• Political obstacles hinder progress in the rare earth sector.

SUMMARY

In this episode of the Rare Earth Exchanges podcast, host Dustin Olsen and co-host Daniel interview James Kennedy, CEO of Caldera, about the critical role of rare earth elements in national security and the mining industry. James shares his journey from discovering rare earths in a bankrupt iron ore mine to advocating for U.S. capabilities in mining and refining these essential materials. The conversation delves into the industry's challenges, the Pentagon's role, and the economic viability of Caldera's operations in Missouri, highlighting the urgent need for partnerships and investment to secure a sustainable supply chain outside China.

CHAPTERS

• 00:00 Introduction to Rare Earths and Caldera
• 03:09 Discovery of Rare Earths in Mining
• 06:12 Engagement with Government on National Security
• 09:06 Challenges in the Rare Earth Industry
• 12:03 The Role of the Pentagon and Market Dynamics
• 14:59 Current State of Heavy Rare Earths
• 17:46 Caldera's Mining Operations and Future Plans
• 21:10 Economic Viability of Extraction
• 24:04 Partnerships and Funding Needs
• 27:03 The Path Forward for Caldera
• 29:50 Conclusion and Future Outlook