The U.S. Defense Department has canceled a tender to buy cobalt due to outstanding issues with the Statement of Work that need resolution before offers may be solicited, with plans to re-issue the solicitation at a later date, Bloomberg’s Annie Lee and William Clowes report. The Defense Logistics Agency had sought offers for up to 7,500 tons of cobalt over the next five years in a contract worth as much as $500M, the report notes. The Fly notes that companies involved in the development and mining of rare earth minerals include Nova Minerals (NVA), Ioneer (IONR), Lynas Rare Earths (LYSCF), MP Materials (MP), Energy Fuels (UUUU), NioCorp (NB) and VanEck Vectors Rare Earth/Strategic Metals ETF (REMX).
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