“Karl Marx is laughing!!”
I have no clue as to the back story, but it wouldn’t surprise me if the owner of the only supply of Rare Earth in the US was using his monopoly position to try to SCREW OVER US taxpayers...and the government got sick of dealing with him.
Fact Sheet: Alaska Strategic Minerals/Rare Earth Elements
Alaska DNR (.gov)
https://dnr.alaska.gov › commis › priorities › Fact ...
PDF
There are more than 70 known occurrences of rare-earth elements throughout Alaska. Millions of acres of land conveyed to or selected by the state are ...