USUnited StatesFinancing facility

Office of Strategic Capital critical-minerals lending (One Big Beautiful Bill Act)

prg-us-osc-critical-minerals-lending

Trace the evidence

Follow this scheme to each independently recorded financial or designation row, named bodies, project references, and the documents cited by that exact row. Connections are navigational registry references, not a claim that capital was disbursed, a company obtained funding, or physical work occurred. Records under a child scheme appear in parent views as the same underlying IDs, never as additional commitments.

Financial rows

Designations

Distinct linked projects

Distinct citing sources

Programme identity

Source-named administrator: Office of Strategic Capital (OSC)

1 directly citing document · show precise citation roles

Office of Strategic Capital Announces First Loan Through DoD Agreement With MP Materials to Secure Critical Materials Supply ChainU.S. Department of Defense, Office of Strategic Capital · 2025-08-10Field evidence: administrators · Field evidence: kind · Field evidence: legal_authority · Field evidence: name

Financial record pathways

All value roles are included, including ceilings, prospective commitments, options, and ended records. No numbers are added here; legal standing belongs to each underlying instrument.

Samarium Project: expansion of heavy rare earth separation, including separation of samarium oxideCommitment
Loan · Reported financial standing: Disbursed
a loan to the Company in the aggregate principal amount of $150,000,000 (the "Samarium Project Loan")
Named provider organizations
Office of Strategic Capital (OSC)
Named recipient organizations
MP Materials Corp.
Directly linked project: Mountain Pass heavy rare earth separation expansion (Samarium Project) (a row reference; assess its value role and status before treating it as backing)
4 directly citing documents · show precise citation roles
1. MP Materials Corp., Form 8-K (Transaction Agreement with the Department of Defense)MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) · 2025-07-10Field evidence: amount · Field evidence: capital_source · Field evidence: facility · Field evidence: instrument · Field evidence: location · Field evidence: materials · Field evidence: project · Field evidence: provider · Field evidence: recipient · Field evidence: stages · Field evidence: status · Field evidence: terms · Field evidence: value_role · Financial status report · Instrument term
2. MP Materials Corp. Form 10-K for the fiscal year ended December 31, 2025MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) · 2026-02-26Field evidence: status · Financial status report
3. MP Materials Corp. Form 10-Q for the quarterly period ended June 30, 2026MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR) · 2026-08-07Field evidence: terms · Instrument term
4. Office of Strategic Capital Announces First Loan Through DoD Agreement With MP Materials to Secure Critical Materials Supply ChainU.S. Department of Defense, Office of Strategic Capital · 2025-08-10Field evidence: amount · Field evidence: instrument · Field evidence: legal_authority · Field evidence: programme · Field evidence: provider · Field evidence: relationships · Field evidence: status · Financial status report · Instrument relationship
US Department of Defense, Office of Strategic CapitalBudget appropriation
Loan · Reported financial standing: Authorized
$500 million of credit subsidy funding
Named provider organizations
Office of Strategic Capital (OSC)
Named recipient organizations
Not stated
1 directly citing document · show precise citation roles
1. Office of Strategic Capital Announces First Loan Through DoD Agreement With MP Materials to Secure Critical Materials Supply ChainU.S. Department of Defense, Office of Strategic Capital · 2025-08-10Field evidence: amount · Field evidence: capital_source · Field evidence: instrument · Field evidence: legal_authority · Field evidence: programme · Field evidence: provider · Field evidence: status · Field evidence: value_role · Financial status report
US Department of Defense, Office of Strategic CapitalLending authority
Loan · Reported financial standing: Authorized
creating up to $100 billion in available loan funds specifically for critical minerals production and related industries and projects
Named provider organizations
Office of Strategic Capital (OSC)
Named recipient organizations
Not stated
1 directly citing document · show precise citation roles
1. Office of Strategic Capital Announces First Loan Through DoD Agreement With MP Materials to Secure Critical Materials Supply ChainU.S. Department of Defense, Office of Strategic Capital · 2025-08-10Field evidence: amount · Field evidence: capital_source · Field evidence: instrument · Field evidence: legal_authority · Field evidence: programme · Field evidence: provider · Field evidence: status · Field evidence: value_role · Financial status report
Vulcan Elements and ReElement TechnologiesCommitment
Loan · Reported financial standing: Decided
a joint $700 million conditional loan commitment
Named provider organizations
Office of Strategic Capital (OSC)
Named recipient organizations
ReElement Technologies, Vulcan Elements
1 directly citing document · show precise citation roles
1. Office of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement TechnologiesU.S. Department of War (Office of Strategic Capital) · 2025-11-21Field evidence: amount · Field evidence: capital_source · Field evidence: instrument · Field evidence: legal_authority · Field evidence: materials · Field evidence: outcomes · Field evidence: programme · Field evidence: provider · Field evidence: recipient · Field evidence: relationships · Field evidence: stages · Field evidence: status · Field evidence: terms · Field evidence: value_role · Financial status report · Instrument relationship · Instrument term · Stated or targeted outcome
ReElement TechnologiesCommitment
Loan · Reported financial standing: Decided
one to ReElement for $80 million
Named provider organizations
Office of Strategic Capital (OSC)
Named recipient organizations
ReElement Technologies
1 directly citing document · show precise citation roles
1. Office of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement TechnologiesU.S. Department of War (Office of Strategic Capital) · 2025-11-21Field evidence: amount · Field evidence: capital_source · Field evidence: instrument · Field evidence: materials · Field evidence: programme · Field evidence: provider · Field evidence: recipient · Field evidence: relationships · Field evidence: status · Field evidence: value_role · Financial status report · Instrument relationship
Vulcan ElementsCommitment
Loan · Reported financial standing: Decided
one to Vulcan for $620 million
Named provider organizations
Office of Strategic Capital (OSC)
Named recipient organizations
Vulcan Elements
1 directly citing document · show precise citation roles
1. Office of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement TechnologiesU.S. Department of War (Office of Strategic Capital) · 2025-11-21Field evidence: amount · Field evidence: capital_source · Field evidence: instrument · Field evidence: materials · Field evidence: programme · Field evidence: provider · Field evidence: recipient · Field evidence: relationships · Field evidence: status · Field evidence: value_role · Financial status report · Instrument relationship

Project designation pathways

Designation confers recorded recognition or standing, not money or evidence of actual production.

No project designations registered under this scheme.

Source links identify explicit citations to the displayed programme, financial row or designation, not proof that a source independently validates every claim about its project or recipients. For financial allocations, see each instrument's record and the existing capital-stack counting rules.

Ceilings

Envelopes, appropriations and lending authorities. Listed, never summed, and never divided into the awards below.

US4 Jul 2025

US Department of Defense, Office of Strategic Capital

USD500 million

DoD–MP Materials public-private partnership for rare earth magnet supply

Budget appropriationLoanPublicAuthorized

US4 Jul 2025

US Department of Defense, Office of Strategic Capital

up toUSD100 billion

DoD–MP Materials public-private partnership for rare earth magnet supply

Lending authorityLoanPublicAuthorized

Awards recorded under the programme

Committed public money the corpus records under this programme or one beneath it, summed per currency; a part is not added to its package. What the corpus records, not the programme's spend.

USD

Loan2 rows

Binding

Stated exactly: 150 million

Not yet binding

Stated exactly: 700 million

2 counted · 2 parts not added again

US9 Jul 2025

MP Materials Corp.

USD150 million

Samarium Project: expansion of heavy rare earth separation, including separation of samarium oxide

CommitmentLoanPublicDisbursedSeparation

US21 Nov 2025

Vulcan Elements and ReElement Technologies

USD700 million

Office of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement Technologies

CommitmentLoanPublicDecidedSeparation · Refining · Component manufacturing

US21 Nov 2025

ReElement Technologies

USD80 million

Office of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement Technologies

CommitmentLoanPublicDecided

US21 Nov 2025

Vulcan Elements

USD620 million

Office of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement Technologies

CommitmentLoanPublicDecided

Record

Kind: Financing facility
Administered by: Office of Strategic Capital (OSC)Government body
Part of: None
Legal authority: One Big Beautiful Bill Act

Evidence

Office of Strategic Capital Announces First Loan Through DoD Agreement With MP Materials to Secure Critical Materials Supply Chain
U.S. Department of Defense, Office of Strategic Capital
Fields supported
Kind · Administering bodies · Legal authority
Evidence level
Explicit
Location in document
Third paragraph
Qualification
"The bill provides OSC with $500 million of credit subsidy funding, creating up to $100 billion in available loan funds specifically for critical minerals production and related industries and projects."
View source dossier →
Office of Strategic Capital Announces First Loan Through DoD Agreement With MP Materials to Secure Critical Materials Supply Chain
U.S. Department of Defense, Office of Strategic Capital
Fields supported
Name
Evidence level
Ambiguous
Location in document
Third paragraph
Qualification
A descriptive name: the sources give this lending no programme title.
View source dossier →

Original sources, the fields each supports, evidence level and precise document location
Source	Fields supported	Evidence level	Location
Office of Strategic Capital Announces First Loan Through DoD Agreement With MP Materials to Secure Critical Materials Supply Chain U.S. Department of Defense, Office of Strategic Capital · Source dossier	Kind Administering bodies Legal authority	Explicit "The bill provides OSC with $500 million of credit subsidy funding, creating up to $100 billion in available loan funds specifically for critical minerals production and related industries and projects."	Third paragraph
Office of Strategic Capital Announces First Loan Through DoD Agreement With MP Materials to Secure Critical Materials Supply Chain U.S. Department of Defense, Office of Strategic Capital · Source dossier	Name	Ambiguous A descriptive name: the sources give this lending no programme title.	Third paragraph