Phoenix Tailings is developing the Freedom Facility, a fully integrated rare earth separation and metallization platform intended to produce both light and heavy rare earth metals from concentrates, recycled materials, and secondary sources. The company plans the facility to act as a midstream processing hub that can purchase output from mines and recyclers and supply materials to manufacturers and government entities. The project will use domestically controlled technology and intellectual property and aims to deliver cleaner, more efficient operations than conventional refining methods. Phoenix Tailings has targeted initial operations at the Freedom Facility for 2028. Financially, the company announced an approximately $1 billion financing initiative that includes a conditional $500 million long-term debt commitment from the U.S. Department of War’s Office of Strategic Capital to support construction and scaling of the facility.

Total raised

$575M

Funding rounds

5

Latest round

Debt Financing

Latest activity

Jun 2026