U.S. Treasury Secretary Visits New Rare Earth Mineral Processing Plant in South Carolina

U.S. Treasury Secretary Scott Bessent recently stated in an interview that the newly built rare earth mineral processing center in South Carolina will help reduce costs.

Bessent claimed in an interview with Fox Business Channel that the factory marks the recovery of American manufacturing and will create jobs and lower prices as President Trump's economic policies are gradually implemented.

Bessent said at the new rare earth magnet processing center of eVAC Magnetics, located in Sumter County, South Carolina: "This is the first (rare earth) magnet made in America in 25 years."

Bessent mentioned that rare earth magnets are a key component of almost all modern products - from smartphones and cars to wind turbines, fighter jets, and missile systems.

Bessent praised, "Thanks to companies like eVAC, we have finally regained our independence again." He also linked this rare earth mineral processing center to a broader economic recovery and job creation, and predicted that American manufacturing will continue to "soar" in 2026 and 2027.

Bessent said, "President Trump is committed to bringing manufacturing jobs back to America, and this is just the beginning. More importantly, it not only means high-paying jobs, but also relates to national and economic security."

Bessent said that about 800 construction workers were involved in the construction of the factory, and the factory size may expand "six to ten times" as the company increases production.

Bessent credited the project to President Trump's executive order on rare earth resources and praised South Carolina Governor Henry McMaster, saying he helped expedite the state's approval process, which was approved in just eight weeks.

Bessent said, "They started working on this project 18 months ago. South Carolina - Governor McMaster did an excellent job. They said they got the license in eight weeks. They couldn't believe how fast it was. This is due to President Trump's approach of mobilizing everyone to address this national security crisis."

Source: rfi

Original: www.toutiao.com/article/1848154198171716/

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