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Phoenix Tailings has raised $40.2 million in a B-3 funding round, including $30.2 million in equity and $10 million in venture debt. This financing will enhance production capabilities for various rare earth metals, expanding beyond neodymium-praseodymium, dysprosium, and terbium. Strategic partners such as Eni Next, Geodesic Alliance Fund, and Traxys participated in this round, which aims to secure supply chains critical for national security and advanced manufacturing.