Aclara Resources CEO Ramón Barúa Costa detailed a $277 million investment to build the first rare earth processing plant in America during an exclusive interview on "The Claman Countdown" Monday.

"We are going to be breaking ground in the second half of next year," he said on the future plant in Louisiana.

Rare earth elements are critical for making everyday electronics, defense systems and more.

The investment aims to help fight China’s grip on the rare earths market, where the country controls around 70% of the world’s rare earth mining and 90% of its processing. Meanwhile, the U.S. handles around only 12% of the rare earth elements.

As the Trump administration seeks to delay China’s aggressive export controls, Barúa Costa addressed what the controls target.

"When we see, for ex

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