FVAC is a SPAC that has a definitive agreement to merge with the Mountain Pass rare earth mine.
Mountain Pass is one of the 4 existent rare earth mining hubs:
I Bayan Obo of Inner Mongolia known for lighter, low cost rare
earths.
II Easter China ionic clays known for cheap,low grade heavy rare
earths
III Mountain Pass known for high grade ore of a basket of the
historically least valuable rare earths
IV Mt. Weld low production mines containing a basket of the most
valuable rare earths. Refining is done in Malaysia.
Mountain Pass is unique because of the potential to process much of its own ore on site. Separation facilities could be completed by 2022. After that, FVAC plans to manufacture magnets with
the refined ore.
A Chinese company is part of the Mountain Pass consortium that has worked to transform the strategic mining errors of previous mining operations into viability.
For this reason, The Pentagon may be reluctant to give aid to the new public company.
As a complement to this obstacle, no aspect of Mountain Pass plans and operations are secret from Chinese rare earth central planning. China may once again manipulate rare earth prices in order to make it difficult for FVAC to finance the separation and magnet manufacturing phases of its plan to completion.
