DFARS 2027 mandates domestic rare earth sourcing, yet Pea Ridge Mine in Missouri—with proven Dy and Tb reserves—remains unfunded by Washington.
Company Profile
Caldera Holding LLC
Overview
About Caldera Holding LLC
Caldera Holding LLC is a privately held U.S. rare-earth and critical-minerals company redeveloping the historic Pea Ridge iron-ore and rare-earth mine in Washington County, Missouri. Positioned as a fully integrated, domestically focused project, Caldera aims to produce up to 22 critical materials from two mineralizations, REE-apatite and pyrite, via digestion, cracking, and solvent-extraction processing. The fully permitted property contains three distinct rare-earth deposits and a proven reserve estimated to span more than 40 years, with significant quantities of praseodymium (Pr), neodymium (Nd), terbium (Tb), dysprosium (Dy), and samarium (Sm), alongside cobalt and iron ore. Caldera markets itself as one of the only permitted U.S. sources of geopolitically significant heavy rare earths outside Chinese control. Led by James Kennedy, the company is pursuing strategic alliances with magnet fabricators and EV-motor manufacturers to build a self-sufficient American supply chain for high-temperature HOT magnets.
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REEx Intelligence
Recent Articles
DFARS expands rare-earth magnet restrictions to mining and midstream on Jan 1, 2027, but U.S. mine-to-magnet supply chains aren't ready. Here's what's at stake.
REEx Structural Momentum Score holds at 5.4/10 as policy moves faster than qualified dysprosium, terbium, and yttrium supply can follow.
The U.S. remains 100% import-reliant on heavy rare earths despite $700M in 2025 funding. Financing is not production—America's industrial clock is running out.
The U.S. is financing a rare earth supply chain faster than it can build one—REEx forecasts meaningful mine-to-magnet scale by 2029–2030, not 2027.
Ex-China rare earth supply chain progress updated: processing, magnets, and HREE remain key bottlenecks despite mining advances.
U.S. faces critical heavy rare earth supply chain bottleneck through 2028. China dominates dysprosium & terbium separation—not mining.
Hancock Prospecting's $3B+ rare earth strategy spans Lynas, MP Materials, and Arafura—but lacks critical HREE and processing control.
Mine tailings offer America's fastest path to rare earth supply, but regulatory complexity blocks recovery at scale. Explore the real barriers.
DFARS compliance 2027 deadline transforms defense magnet sourcing. China-free supply chains and traceability infrastructure critical for contractors.
Project Vault critical minerals stockpile sparks rally in rare earth stocks, but investors must look beyond policy hype to supply-chain fundamentals.
2025 marked the shift from aspiration to action in building ex-China rare earth supply chains—mines secured funding, refineries broke ground, magnets shipped.
Missouri's Caldera mine could supply critical heavy rare earths for U.S. defense by 2028, breaking China's 91% control of dysprosium and terbium.
MP Materials races to secure U.S. heavy rare earth supply chain by 2026, targeting 200MT dysprosium-terbium capacity amid China dominance concerns.
