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U.S. Turns to Domestic Miners in the Battle for Battery and Defense Minerals
- As Western nations seek to reduce reliance on Chinese-controlled critical minerals like cobalt, lithium, antimony, and fluorspar, there is a growing push to secure alternative sources to meet clean energy and defense needs.
- Companies such as Ares Strategic Mining Inc., Perpetua Resource Corp., Western Copper and Gold Corporation, Foran Mining Corporation, and Almonty Industries Inc. are at the forefront of rebuilding domestic capacity for these essential minerals.
- Fluorspar, a crucial ingredient in clean energy systems and lithium-ion battery components, remains 100% imported in the U.S., highlighting the need for domestic supply sources.
- Ares Strategic Mining secured an $11 million state-backed loan to expedite production at its Lost Sheep fluorspar mine, the only fully permitted fluorspar operation in the U.S.
- The Utah loan will also support the extraction of gallium, a strategic mineral critical to microchips and defense, filling a significant gap in domestic supply since 1987.
- Initiatives like this are crucial for national security and economic stability, emphasizing the priority of establishing domestic supplies for critical minerals.
- Ares Strategic Mining's strategic positioning as a key domestic supplier of fluorspar and gallium underscores the importance of rebuilding America's critical mineral independence.
- Other industry developments include Perpetua Resource Corp. enhancing domestic antimony trisulfide supply, Western Copper and Gold Corporation's deepening relationship with Mitsubishi Materials, Foran Mining Corporation's infrastructure resilience at McIlvenna Bay Project, and Almonty Industries Inc.'s strategic board appointment.
- Efforts to secure reliable, high-grade domestic mineral sources are gaining momentum, with companies like Ares Strategic Mining playing a vital role in reshaping the U.S. supply chain for critical minerals.
- Amidst the global push for self-sufficiency in essential minerals, a strategic focus on domestic production and supply chain resilience is evident across various mineral sectors crucial to national defense and economic stability.
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