Strategic Materials

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China’s Lock on Rare Earths Dictated Path Toward Trade Truce


The Wall Street Journal

by Jon Emont, Gavin Bade

6-11-25


https://www.wsj.com/world/asia/trump-china-rare-earths-0cbf3f3c


China’s chokehold on supplies of minerals essential to high-tech goods from electric vehicles to jet fighters has become a formidable advantage in trade negotiations with the U.S.

President Trump said Wednesday that the U.S. and China had agreed on terms for a truce on trade. The framework for the deal, which officials from the U.S. and China negotiated over two days in London this week, hinged on access to China’s exports of rare-earth magnets, coin-size components that are indispensable for powering car motors, industrial robots and missile-guidance systems.

Trump and Chinese leader Xi Jinping need to approve the agreement, which would lift some U.S. export restrictions in exchange for speeding the flow of rare earths. Commerce Secretary Howard Lutnick told The Wall Street Journal that he expects Trump to approve the agreement as soon as Wednesday or Thursday.

China makes around 90% of the world’s most powerful rare-earth magnets.

The deal appears to allow China to maintain an export-control system for rare earths established in April after Trump heaped extra duties of 34% on Chinese products. That would allow Beijing to clamp down on supplies again in the future. And licenses for U.S. manufacturers to import rare earths from China would have a six-month limit, people familiar with the deal said.

“China’s going to want to maintain leverage,” said Gracelin Baskaran, director of the critical minerals security program at the Center for Strategic and International Studies in Washington. China’s dominance “puts American companies at direct risk given that any sort of agreements that have been made can be reneged on,” she said.

China’s decision this year to cut back on exports of the magnets for just a couple of months sent shock waves through the global auto, electronics and defense industries. That helped drive the U.S. and China back to the bargaining table this week. China wanted the U.S. to lift export restrictions on technology including aviation parts in exchange for U.S. access to the rare-earths components.

China said it established export controls to regulate the supply of “dual-use” materials that can be used by militaries. After they took effect, Chinese magnet exporters requested details from foreign customers about the precise intended use. Magnets that didn’t contain the restricted rare-earth elements sometimes had to verify that through third-party testing, further gummed up exports.

Regulators often came back with more questions, sometimes requesting pictures of final products, which companies were loath to disclose because of intellectual-property concerns.

As delays mounted, global manufacturers grew more concerned.

In April, Elon Musk said China’s magnet restrictions could interfere with production of Tesla’s Optimus humanoid robots. Ford said it had stopped production of its Explorer SUV at its Chicago plant for a week in May.

New export licenses were issued in limited quantities to some Chinese magnet companies for certain non-U. S. clients including Volkswagen, and even some U.S. companies, people familiar with the matter said, but many companies around the world struggled to get enough magnets.

Two weeks ago, Bajaj Auto, an Indian auto rickshaw maker, said rare-earth export licenses now required, among other things, certification by the Chinese Embassy in India.

A trade truce between the U.S. and China in Geneva in mid-May was expected to ease the flow of magnets. But rare-earth exports remained constrained and the U.S. accused Beijing of slow-walking approvals. China blamed the Trump administration for breaking the Geneva agreement.

Earlier this month, Beijing said it would ease rare-earth exports to Europe, but made no such move for the U.S.

Automakers and other companies will seek to use any loosening of export restrictions to stock up on rare-earth magnets. Relief could be short-lived.

Mineral experts deem it unlikely that China will issue enough permits to allow big auto companies to stockpile magnets in large quantities. And even if Beijing did free up the flow, companies’ needs for specific magnets shift over time: When a carmaker changes the design of a motor, it often needs different magnets.

Defense companies are expected to face the most serious challenges. U.S. defense companies have moved away from China-sourced magnets, but few military-grade magnets are completely free of Chinese rare earths.

“China is very aware of its own capacity and is increasingly showing it is willing to use its own tools if necessary,” said Deborah Elms, head of trade policy at the Singapore-based Hinrich Foundation.

China’s dominance of rare earths was years in the making. By the 1990s China had developed top-quality rare-earth mines and a growing manufacturing sector hungry for rare-earth magnets. With state backing and easy access to raw materials, Chinese magnet makers undercut foreign competition. By 2010, the U.S. rare-earth magnet industry had all but disappeared. That gave Beijing a powerful weapon. One reason it has held off from restricting rare-earth exports in recent years is because that could catalyze efforts by companies around the world to develop rare-earth supply chains independent of China.

Australia’s Lynas Rare Earths recently opened a plant in Malaysia to process strategically crucial “heavy” rare earths, which will provide a rare alternative source to China.

“The Black Swan event has materialized,” Lynas CEO Amanda Lacaze said in April.

MP Materials, the dominant U.S. producer of rare earths, has a heavy-rare-earth plant coming up in California and expects to begin commercial production of magnets by the end of the year at its factory in Texas. MP has an agreement to sell magnets to General Motors.

While such efforts could provide an important backstop for strategic industries such as defense, robotics and automotives, over the near term China will maintain a firm grip.

“We’re just bringing commercial-level alternative sources online,” said Baskaran, the rare-earths expert. “And then there’s a process of ramp-up.”

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>>> Trump tariffs live updates: US-China trade framework takes shape as Trump says deal 'done'


Yahoo Finance

June 11, 2025


https://finance.yahoo.com/news/live/trump-tariffs-live-updates-us-china-trade-framework-takes-shape-as-trump-says-deal-done-200619381.html


The US and China agreed to a framework and implementation plan to ease tariff and trade tensions on Tuesday. President Trump signaled his approval, saying the deal was "done" pending sign-off from him and Chinese President Xi Jinping.

Trump and other US officials indicated the deal should resolve issues between the two countries on rare earths and magnets, though a report later indicated China would only loosen restrictions on rare earth mineral exports for a six-month period. Trump also said the US will allow Chinese students in US colleges, a sticking point that had emerged in the weeks following the countries' mid-May deal in Geneva.

Trump said the US would impose a total of 55% tariffs on Chinese goods. Yahoo Finance's Ben Werschkul reports, citing a White House official, that Trump arrived at that figure by adding together an array of preexisting duties and not any new tariffs.

The president combined the existing 20% tariffs over illegal drugs and migration with 10% "Liberation Day" tariffs, with other sector-specific duties in place that average out to 25% — but only apply to certain goods.

Outside analysts, such as the budget lab at Yale, have calculated that the effective tariff rate on China overall is more like 33%. Trump said China's tariffs on US imports would be 10%.

Meanwhile, though Trump's most sweeping tariffs continue to face legal uncertainty, on Tuesday, the president received a favorable update. A federal appeals court held a decision saying his tariffs can temporarily stay in effect. The US Court of International Trade had blocked their implementation last month, deeming the method used to enact them "unlawful."

Trump celebrated the ruling as a "great and important win."

The latest twists and turns in Trump's trade policy come as the president pushes countries to speed up negotiations. The US sent a letter to partners as a "friendly reminder" that Trump's self-imposed 90-day pause on sweeping "reciprocal" tariffs is set to expire in early July.

White House advisers have for weeks promised trade deals in the "not-too-distant future," with the only announced agreement so far coming with the United Kingdom. US and Indian officials held trade talks this week and agreed to extend those discussions on Monday and Tuesday ahead of the July 9 deadline.

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[ZenVirtuoso87]

Have anybody looked onto refinery sectors?

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>>> Idaho Strategic Announces its Plans for the 2025 Rare Earth Elements Exploration Field Season in Alignment with President Trump’s Recent Executive Order


Idaho Strategic Resources, Inc.

March 25, 2025


https://finance.yahoo.com/news/idaho-strategic-announces-plans-2025-110000148.html


The Company plans for its busiest exploration season to-date in 2025 targeting rare earth elements ("REE") and thorium ("Th") at its expansive land holdings in central Idaho

All three projects: Lemhi Pass, Mineral Hill, and Diamond Creek are included in the U.S.' National REE Inventory and located in Idaho's well-known and underexplored REE-Th Belt

IDR believes its projects are well suited for President Trump's recent Executive Order titled, "Immediate Measures to Increase American Mineral Production in the United States"


COEUR D'ALENE, IDAHO / ACCESS Newswire / March 25, 2025 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR", "Idaho Strategic" or the "Company") is pleased to announce its exploration plans for the 2025 exploration field season at its three rare earth elements and thorium projects, each of which are largely located in central Idaho within Idaho's 70-mile long REE-Th Belt (Figure 1).

Although Idaho Strategic has been planning its 2025 exploration programs for many months now, the timing to announce the Company's plans serendipitously coincides with President Trump's recent Executive Order titled, "Immediate Measures to Increase American Mineral Production in the United States", announced late last week. The Executive Order directs government agencies to immediate action to facilitate domestic mineral production to the maximum extent possible by identifying and encouraging mineral development on Federal lands, and by streamlining the Federal permitting process.

Idaho Strategic's management believes that its strategic first mover advantage and track record as an operator within the state of Idaho and the importance of its rare earth elements and thorium projects aligns well with President Trump's strategy to unlock the mineral potential of the United States. The Company's exploration plans for each of its projects in 2025 are summarized below:

Lemhi Pass (Figure 2)

Building on successful exploration results that yielded up to 5% total rare earth oxides (TREO) including magnet REEs in excess of 70%, Idaho Strategic is planning a widespread radiometric survey over known REE and Th occurrences coinciding with an extensive soil sampling initiative. The combination of both radiometrics and soil sampling allows for the identification of potential drill targets and initial ground truthing of those targets to help prioritize the order in which follow-on exploration and investment should logically occur. Lemhi Pass will receive the bulk of the Company's attention given its favorable locations for a potential mine, its positive exploration results to-date, and its favorable REE mix showing a unique enrichment of higher-value magnet REEs compared to many projects globally.

Mineral Hill (Figure 3)

The plan for IDR's Mineral Hill project is to fly drone assisted radiometric, magnetic, and lidar mapping over the Company's entire claim block. This program is designed to identify and assist in planning for potential future drill targets. As the project sits, Idaho Strategic has already identified areas that warrant drilling, such as the Upper Roberts occurrence that returned multiple samples between 20% and 34% TREO at the surface. However, surface mapping of other areas within the Company's claim block have revealed previously unknown carbonatite occurrences with high-grade REEs at the surface. The completion and interpretation of the drone survey data will allow the Company to plan a more cost effective and comprehensive drill program in the future to test multiple areas and help to reduce drill mobilization fees associated with the project's variable terrain.

Diamond Creek

Given the success of Idaho Strategic's 2022 trenching and drilling program at its Diamond Creek project, the Company's geologists have planned and permitted a follow-up trenching program (with the optionality to drill) at a number of occurrences along strike from the favorable results obtained in 2022. The program is designed to extend the strike length of the historic resource outlined by M.H. Staatz of the United States Geological Survey in 1979, which was based on limited surface exploration work and covered approximately half of the strike length identified to-date by Idaho Strategic geologists. While the historic resource at Diamond Creek is not compliant with modern 43-101 or S-K 1300 resource standards, it is a great starting point for Idaho Strategic's geologists to build from.

Idaho Strategic's CEO and President, John Swallow stated, "It is an extremely busy and exciting time for our Company and our industry. In light of President Trump's latest Executive Order - and our strategic focus on gold production and critical minerals exploration - we feel we are well positioned to benefit from the new administration's efforts to develop American resources and reshore American jobs.

We see this Executive Order as a real world ‘value-add' component to project analysis in both timing and certainty. For the project owner, the ability to positively address the ‘drill hole to production to final product' value proposition is important in any discussion. And mitigating the ‘permitting challenge' topic obviously changes the tone of the discussion for all the players at the table.

I have long believed that a time would come when we would be strongly compelled to rebuild the American production base from the 1950s and given the steps this administration has taken over the past couple of months, I believe that we are in the midst of some version of that. At IDR we are especially proud of the mineral endowment of the state of Idaho and recognize what this Executive Order could do to maximize the value of our projects and help provide a domestic solution to our country's import reliance for rare earth elements."

About Idaho Strategic Resources, Inc.

Idaho Strategic Resources (IDR) is an Idaho-based gold producer which also owns the largest rare earth elements land package in the United States. The Company's business plan was established in anticipation of today's volatile geopolitical and macroeconomic environment. IDR finds itself in a unique position as the only publicly traded company with growing gold production and significant blue-sky potential for rare earth elements exploration and development in one Company.

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>>> Idaho Strategic Resources, Inc. (IDR), a resource-based company, engages in exploring for, developing, and extracting gold, silver, and base metal mineral resources in the Greater Coeur d'Alene Mining District of North Idaho. Its portfolio of mineral properties includes the Golden Chest Mine, a producing gold mine located in the Murray Gold Belt (MGB) of North Idaho; approximately 1,500 acres of patented mineral property and approximately 5,800 acres of nearby and adjacent un-patented mineral property located within the MGB; rare earth element projects located in the Idaho REE-Th Belt near Salmon, Idaho; and early-stage exploration properties in Central Idaho. The company was formerly known as New Jersey Mining Company and changed its name to Idaho Strategic Resources, Inc. in December 2021. Idaho Strategic Resources, Inc. was incorporated in 1996 and is based in Coeur d'Alene, Idaho.

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https://finance.yahoo.com/quote/IDR/profile/


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>>> Beijing has issued first rare earth magnet export permits, Volkswagen suppliers on the list


Reuters

May 13, 2025


https://finance.yahoo.com/news/exclusive-beijing-issued-first-rare-123315977.html


(Reuters) - China has issued export permits to at least four rare earth magnet producers including suppliers to Volkswagen, the German carmaker and industry sources said, the first granted since Beijing restricted shipments last month and a sign that the critical materials will continue to flow.

Baotou Tianhe Magnetics, which makes the magnets used in electric and hybrid car motors, received a licence for Volkswagen in late April, three sources said. One of the sources added that the automaker had reached out to Beijing to help during the process.

"We remain in close contact with our suppliers and have received indications that a limited number of Volkswagen AG’s magnet suppliers have been granted export licenses by the Chinese government," Volkswagen said in response to questions from Reuters, declining to provide further detail.

Zhongke Sanhuan received at least one permit, two of the sources said. Baotou INST Magnetic and Earth-Panda Advanced Magnetic Material were also granted at least one permit, one of the sources added.

The sources declined to be named due to the sensitivity of the matter.

The four magnet producers and China's commerce ministry did not immediately respond to requests for comments.

Export licenses are granted for each customer and it is unclear whether all clients of the four firms have been cleared by Beijing. One of the sources said permits were only issued to suppliers for customers in Europe and Vietnam.

However, the permits were issued before the trade war truce agreed with Washington on Monday, which industry sources said is likely to make it easier for U.S. customers to win approvals.

Beijing issued the permits less than a month after it imposed restrictions on seven rare earth elements and related materials as part of a response to U.S. President Donald Trump's earlier tariffs, bucking industry expectations of a long wait.

The sources said the permits were the first to be issued since Beijing imposed its curbs.

China dominates the processing of the 17 rare earth elements used across clean energy, defence and automaking and companies have few, if any, alternative suppliers.

That dependence is demonstrated by Volkswagen's intervention as well as lobbying from other big Western users. Elon Musk said last month Tesla was in talks with Beijing over licenses for its Optimus robots.

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>>> US and Ukraine Sign Resources Deal After Fraught Negotiations


Bloomberg

by Daniel Flatley

April 30, 2025


https://finance.yahoo.com/news/us-ukraine-sign-agreement-access-215950837.html


(Bloomberg) — The US and Ukraine reached a deal over access to the country’s natural resources, offering a measure of assurance to officials in Kyiv who had feared that President Donald Trump would pull back his support in peace talks with Russia.

The deal will grant the US privileged access to new investment projects to develop Ukraine’s natural resources including aluminum, graphite, oil and natural gas. It’s been seen as critical to fostering Trump’s goodwill as his administration pushes to end the war that began when Russia mounted its full-scale invasion more than three years ago.

“This agreement signals clearly to Russia that the Trump administration is committed to a peace process centered on a free, sovereign and prosperous Ukraine over the long term,” Treasury Secretary Scott Bessent said in a statement. “And to be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.”

Ukrainian Economy Minister Yulia Svyrydenko said in a social media post that “together with the United States, we are creating the Fund that will attract global investment into our country.”

Trump, in a NewsNation town hall on Wednesday night, said he told Ukrainian President Volodymyr Zelenskiy when they both attended the funeral of Pope Francis at the Vatican last weekend that “I was telling him that it’s a very good thing if we can produce a deal that you sign.”

The signing ceremony on Wednesday concluded weeks of contentious negotiations and pulled the two countries back from a rift. Zelenskiy had come to Washington in February to sign the resources deal but went away empty-handed after he got into a testy back-and-forth with Trump and Vice President JD Vance in the Oval Office as the cameras rolled.

The accord was reached as Trump marked the first 100 days of his current term and is under pressure to secure victories as polls have shown an erosion of his favorability, driven largely by angst over his economic policies. He’s also been frustrated in delivering on promises to bring quick solutions to the conflicts in Ukraine and Gaza.

Under the terms of the deal, the US would get first claim on profits transferred into a special reconstruction investment fund that would be jointly managed by both nations. The deal is intended in part to reimburse the US for future military assistance to Ukraine. The fund will be financed by 50% of the revenues from new licenses in projects relating to critical materials, oil and gas.

Washington also acknowledged Kyiv’s intentions for the deal to avoid any conflict with its plans to join the European Union — long seen as a red line for Ukraine in the talks.

Many questions remain about the extent of future US support, including whether Trump will send more of the weapons and ammunition that Ukraine has come to rely on in the fight against Russia. The deal offers no direct security guarantees by the US, though Svyrydenko said on social media that it “reaffirms the United States of America commitment to Ukraine’s security, recovery, and reconstruction.”

While Congress is unlikely to appropriate new money for Ukraine beyond what’s already been allocated, it’s important that the US continue intelligence sharing, which is “basically irreplaceable,” said Charles Lichfield, deputy director of the Atlantic Council’s GeoEconomics Center in Washington.

The administration briefly cut off intelligence when Ukraine and the US failed to reach a deal on natural resources in February.

“Any positive step, anything that keeps the US engaged, is worth having,” Lichfield said.

Ukraine’s Prime Minister Denys Shmyhal has said that Washington dropped its insistence that the deal provide for repayment of billions of dollars in aid already delivered since the start of Russia’s invasion. That was considered a success given that Trump had earlier demanded the equivalent of $500 billion from rare earths.

The focus will now shift to the negotiations over a peace deal. Trump’s envoy, Steve Witkoff, met Russian President Vladimir Putin in Moscow last week but so far hasn’t been able to secure a lasting ceasefire.

White House officials have said Trump has grown increasingly frustrated with both Ukraine and Russia for so far failing to conclude a peace deal — which he promised to conclude in his first day in office.

Trump has threatened to walk away if there’s no progress in those ceasefire negotiations, raising concerns among Ukraine’s allies about the extent to which Kyiv may be blamed for talks falling apart. The resources deal appears to put Zelenskiy and Ukraine back in Trump’s good graces, at least for now.

“We made a deal where our money is secure, where we can start digging and doing what we have to do,” Trump said at a cabinet meeting at the White House earlier Wednesday. “It’s also good for them because you’ll have an American presence at the site, and the American presence will keep a lot of bad actors out of the country or certainly out of the area where we’re doing the digging.”

US and Ukrainian officials signed a memorandum of intent earlier in April, and continued to hash out the technical details of the deal. Zelenskiy then met one-on-one with the American president at the Vatican.

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>>> Lynas Rare Earths' Q3 revenue misses estimates as pricing, volatility weighs


Reuters

April 27, 2025


https://finance.yahoo.com/news/australias-lynas-rare-earths-posts-225626691.html


(Reuters) - Australia's Lynas Rare Earths on Monday missed market estimates for its third-quarter gross sales revenue, hit by lower rare earths market pricing and global trade volatility.

Lynas, the world's largest producer of rare earths outside China, posted third-quarter gross sales revenue of A$123 million ($78.62 million), missing Visible Alpha consensus of A$155.7 million.

The figure, however, was about a 22% rise from A$101.2 million logged a year earlier.

Lynas said that recent global trade and policy shifts have disrupted the rare earths market, with tariffs from both the U.S. and China effectively halting bilateral material flows.

"Lynas expects market volatility to continue through the June 2025 quarter as a result of the new global tariff environment and China export controls," the rare earths producer said.

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>>> U.S.' inability to replace rare earths supply from China poses a threat to its defense, warns CSIS


CNBC


https://www.cnbc.com/2025/04/15/us-is-unable-to-replace-rare-earths-supply-from-china-warns-csis-.html


Amid U.S. President Donald Trump’s escalating tariffs on China, Beijing earlier this month imposed export restrictions on seven rare earth elements used in defense, energy and automotive technologies.

The Center for Strategic and International Studies warns the restrictions will likely result in a pause in exports and cause disruptions in supply to some U.S. firms.

“The United States is particularly vulnerable for these supply chains,” CSIS warned, emphasizing that rare earths are crucial for a range of advanced defense technologies.

As China imposes export controls on rare earth elements, the U.S. would be unable to fill a potential shortfall, according to the Center for Strategic and International Studies — and this could threaten Washington’s military capabilities.

Amid U.S. President Donald Trump’s escalating tariffs on China, Beijing earlier this month imposed export restrictions on seven rare earth elements and magnets used in defense, energy and automotive technologies.

The new restrictions — which encompass the medium and heavy rare earth elements samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium — will require Chinese companies to secure special licenses to export the resources.

Though it remains to be seen exactly how China will implement this policy, the CSIS report, published Monday, warns that it will likely result in a pause in exports as Beijing establishes the licensing system, and cause disruptions in supply to some U.S. firms.

The New York Times reported earlier this week that a pause in China’s rare earth element exports was already occurring.

As China effectively holds a monopoly over the supply of global heavy rare earths processing, such restrictions pose a serious threat to the U.S., particularly its defense technology sector.

“The United States is particularly vulnerable for these supply chains,” CSIS warned, emphasizing that rare earths are crucial for a range of advanced defense technologies and are used in types of fighter jets, submarines, missiles, radar systems and drones.

Along with the export controls, Beijing has placed 16 U.S. entities — all but one in the defense and aerospace industries — on its export control list. Placement on the list prevents companies from receiving “dual-use goods,” including the aforementioned rare earth elements.

Not ready to fill gap

According to CSIS’s report, if China’s trade controls result in a complete shutdown of the medium and heavy rare earth element exports, the U.S. will be incapable of filling the gap.

“There is no heavy rare earths separation happening in the United States at present,” CSIS said, though it noted the development of these capabilities is underway.

For example, the Department of Defense set a goal to develop a complete rare earth element supply chain that can meet all U.S. defense needs by 2027 in its 2024 National Defense Industrial Strategy.

Since 2020, the DOD has committed over $439 million toward building domestic supply chains and heavy rare earths processing facilities, according to data collected by CSIS.

However, CSIS said that by the time these facilities are operational, their output will fall well short of China’s, with the U.S. still far from meeting the DOD’s goal of an independent rare earth element supply.

“Developing mining and processing capabilities requires a long-term effort, meaning the United States will be on the back foot for the foreseeable future,” it added.

U.S. President Trump has also been seeking a deal with Ukraine, which would give it access to its deposits of rare earth minerals. However, questions remain about the value and accessibility of such deposits.

Implications

The CSIS report warns that the export controls pose direct threats to U.S. military readiness, highlighting that the country is already lagging behind in its defense manufacturing.

“Even before the latest restrictions, the U.S. defense industrial base struggled with limited capacity and lacked the ability to scale up production to meet defense technology demands,” its authors said.

They cite an estimate that China is acquiring advanced weapons systems and equipment five to six times faster than the U.S., originating from a U.S. Air Force official in 2022.

“Further bans on critical minerals inputs will only widen the gap, enabling China to strengthen its military capabilities more quickly than the United States,” the report concludes.

The U.S. is not alone in its concerns about China’s monopoly on rare earths, with countries like Australia and Brazil also investing in strengthening domestic rare earth elements supply chains.

CSIS recommends that the U.S. provide financial and diplomatic support to ensure the success of these initiatives.

However, China’s new export licensing system for the rare earths could also incentivize countries across the world to cooperate with China to prevent disruptions to their own supply of the elements, CSIS said.

A research report from Neil Shearing, group chief economist at Capital Economics, on Monday also noted how controls on rare earths and critical minerals have become part of Beijing’s playbook in pushing back against Washington.

Shearing notes that in addition to China’s hold on some rare earths, the supply of many other critical minerals, including cobalt and palladium, is concentrated in countries that align with Beijing.

“The weaponising of this control over critical minerals — and the race by other countries to secure alternative supplies — will be a central feature of a fractured global economy,” he said.

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>>> Trump Moves to Ramp Up Deep-Sea Mining for Critical Minerals


Bloomberg

by Jennifer A. Dlouhy and Stephanie Lai

April 25, 2025


https://finance.yahoo.com/news/trump-moves-ramp-deep-sea-215958968.html


(Bloomberg) -- President Donald Trump has signed an executive order intended to accelerate offshore mining and open new opportunities for extracting critical materials from the ocean floor despite the objections of environmentalists.

The measure directs the Commerce Department to speed up reviewing and issuing permits for exploration and commercial recovery under a 1980 law, according to senior White House officials who briefed reporters on the action Thursday.

While the permits could cover territory far beyond the US Outer Continental Shelf, the president is also setting in motion potential seabed mining within US coastal waters. Under Trump’s order, Interior Secretary Doug Burgum is charged with establishing a process for approving permits and granting licenses for seabed mining in US waters, under the same law that has long governed oil drilling there.

The White House in a fact sheet cast the order as one of several steps Trump has taken “positioning the United States at the forefront of critical mineral production and innovation.”

The president is also ordering a raft of reports, including a study of using the US National Defense Stockpile for minerals contained within sea deposits and an assessment of private-sector interest in the activity.

The order directs the US International Development Finance Corporation and the US Export-Import Bank to study options for providing financing and other support for exploration, extraction, processing and environmental monitoring of seabed resources.

Trump’s directive comes amid increasing concern over new Chinese curbs on the export of rare-earth materials used in electric vehicle batteries, smartphones and other technology, a response to Trump’s tariffs. China’s moves have generated worries about obtaining alternate supplies for the metals given the country’s dominance in mining and refining them.

The executive order drew fire from Beijing. Trump’s plan breaks international law because it will apply to areas of the sea floor that “do not belong to any country,” China Foreign Ministry spokesman Guo Jiakun said on Friday at a daily press briefing.

Economic Opportunities

Deep-sea mining is seen by the administration as another avenue for extracting rare-earth elements such as manganese, cobalt, nickel and copper, helping wean the US off foreign suppliers and opening new export opportunities. Over 10 years, a seabed mineral extraction industry could yield 100,000 jobs and hundreds of billions of dollars in economic benefits, one of the White House officials said.

Mining advocates have warned that without action, the US and allies risk forfeiting seabed mineral extraction to China. In a report earlier this month, RAND estimated that production from seabed mining would decrease metal prices and could produce enough nickel and cobalt to meet projected US demand in 2040. The materials are essential ingredients in lithium-ion batteries.

Trump’s order is expected to benefit The Metals Company, or TMC, which for years has sought to collect mineral-rich deposits that cover the sea floor in the Clarion-Clipperton Zone, international waters in the Pacific Ocean between Hawaii and Mexico. The Vancouver-based company’s push has been complicated by a long-running debate over potential regulations from the United Nations-affiliated International Seabed Authority that governs the region.

TMC said last month it was pursuing exploration licenses and commercial recovery permits from the Trump administration under the 45-year-old Deep Seabed Hard Mineral Resources Act.

Any move to approve permits — with the US effectively circumventing the International Seabed Authority — has been criticized as a violation of the UN Convention on the Law of the Sea that established the body. It also threatens to disrupt more than a decade of negotiations to enact regulations that would allow mining to commence.

Habitat Threat

Environmentalists are seeking stiffer international regulation of deep-sea mining, warning that the activity could imperil key marine habitats and the organisms that live on the ocean bottom.

The Law of the Sea Treaty established the ISA, but since the US is not a signatory, conservatives have argued the US government should not voluntarily submit to it. That treaty also reserved some mining areas in the Clarion-Clipperton Zone for the US in case the country eventually acceded to the convention. The US in turn enacted the deep sea mineral resources law, which spells out procedures for US companies to gain access to materials there.

TMC holds two ISA licenses to prospect for cobalt, nickel and other metals found in polymetallic nodules — potato-sized rocks rich in those materials. TMC and other ISA-licensed companies, however, can’t begin mining until the organization develops regulations to govern the practice.

The company has defended its move to seek US permits. TMC Chief Executive Officer Gerard Barron told Bloomberg in a statement last month that the company had complied with the terms of its ISA contract but the organization failed to fulfill its duty under the treaty to enact regulations.

“I’m not sure why ISA member states act surprised that TMC is now looking at an alternative, longstanding regulatory regime,” he said at the time.

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>>> China has a powerful card to play in its fight against Trump’s trade war


CNN

https://www.cnn.com/2025/04/15/business/china-trumps-trade-war-rare-earth-intl-hnk/index.html


Less than a year into Donald Trump’s first trade war with China, Chinese leader Xi Jinping made a high-profile visit to an unassuming factory in Ganzhou, an industrial city nestled among rolling hills in the country’s southeast.

Touring its exhibition hall in 2019, Xi examined row upon row of unremarkable gray metal blocks and declared to his entourage of Communist Party officials: “Rare earths are a vital strategic resource.”

Nearly six years on, China’s dominance of the rare earths supply chain has emerged as among its most potent tools in a renewed trade war with the United States president. The minerals – used to power everything from iPhones to electric vehicles – are vital components for the kinds of advanced technology that will define the future.

And unlike tariffs, it’s a front where Trump has little room to retaliate in kind.

Rare earths are a group of 17 elements that are more abundant than gold and can be found in many countries, including the United States. But they’re difficult, costly and environmentally polluting to extract and process.

For decades, the US and other countries have been dependent on Beijing’s supply of these processed metals. China accounts for 61% of global mined rare earth production, but its control over the processing stage is 92% of the global output, according to the International Energy Agency.

On April 4, after years of veiled warnings, the Chinese government placed export restrictions on seven types of rare earth minerals, as part of its retaliation against Trump’s initial 34% “reciprocal” tariffs on Chinese goods. The new rules require all companies to secure government permission to export the seven minerals as well as associated products, such as magnets.

Magnets made of rare earths enable smaller, more efficient motors and generators used in smartphones, car and jet engines, and MRI machines. They are also essential components in a range of big-ticket weapons, from F-35 stealth fighter jets to nuclear-powered attack submarines.

“It’s China showing that it can exert incredible economic might by being strategic … and surgical and really hitting American industry right where it hurts,” said Justin Wolfers, a professor of economics and public policy at the University of Michigan.

On Tuesday, Trump ordered a probe into potential tariffs on critical minerals, a broader category of resources that include rare earth elements, to evaluate the impact of these imports on America’s security and resilience.

“The dependence of the United States on imports and the vulnerability of our supply chains raises the potential for risks to national security, defense readiness, price stability, and economic prosperity and resilience,” Trump said in an executive order.

Since the first Trump administration, the US has been trying to play catch-up and build up its own domestic rare earths supply chain. Three American rare earth industry companies told CNN that they are in the process of expanding production capacities and sourcing materials from US allies and partners.

But those efforts will take years to meet the enormous demand from key US industries.

Suspended orders

For now, the impact of Beijing’s export controls is being swiftly felt on the ground.

John Ormerod, founder of rare earth magnet consultancy JOC, told CNN that shipments of rare earth magnets belonging to at least five American and European companies have been halted in China since the imposition of the order.

“They were taken by surprise so there’s a lot of confusion on their side and they needed clarification from the authorities of what’s required (to obtain the required export licenses),” he said.

Joshua Ballard, CEO of USA Rare Earth, said the export controls focus on “heavy” rare earths, which are 98% controlled by China. (Heavy rare earths are less common, harder to process and more valuable.) This means that companies must now seek Beijing’s approval to deliver these critical materials to key American industries, he added.

“Right now, literally these exports are being suspended,” Ballard said. “We don’t hold a lot of back stock of this in inventory here in the US … This is China’s best play. They don’t have much leverage when it comes to tariffs on us, but they sure do have leverage here.”

The export controls not only target single materials but also alloys and products where the elements are contained even in minimal quantities, said Thomas Kruemmer, director of the Singapore-based mineral and metal supply chain firm Ginger International Trade and Investment. “A lot of exports now fall under this licensing system,” he added, noting that some delays are expected as exporters navigate the new system.

Decades in the making

China got an early start in rare earth extraction, beginning in the 1950s, according to state media, but the industry only really began to develop in the late 1970s.

During that time, China combined its low labor costs and relatively lax environmental standards with the adoption of foreign technologies, according to Stan Trout, founder of the rare earths and magnetic materials consultancy Spontaneous Materials.

“Much of the technology that they brought in was developed here in the US, or in Japan, or in Europe,” he said. “And over time, I’m sure they’ve made improvements to it.”

As the country’s rare earth production increased, Beijing gradually understood the strategic importance of the minerals. “There was a recognition that this could be a very important technology for them to master,” Trout added.

In 1992, during a visit to one of the country’s main rare earth production hubs in Inner Mongolia, Deng Xiaoping, the former Chinese leader who spearheaded the country’s economic reforms, famously said: “While there is oil in the Middle East, China has rare earths.” Today, China has fulfilled Deng’s vision by dominating the entire supply chain for the materials.

While labor costs are now higher, China’s control of the industry has been cemented because of its “willingness to invest in the technology, the R&D, and automation” in an industry that is highly capital-intensive, said Ormerod.

There were once American companies making these rare earth magnets. But Ormerod noted that they gradually exited the business as lower-cost Chinese alternatives emerged.

“We’ve lost the know-how, we’ve lost the human resource capability and it’s a very capital-intensive operation,” he said.

Now, it is difficult to compete with the “Chinese price,” because of the country’s greater economies of scale, as well as government incentives that gave them an additional edge, Ormerod added.

Between 2020 and 2023, the US relied on China for 70% of its imports of all rare earth compounds and metals, according to a US Geological Survey report this year.

Challenge and opportunity for the US

The latest export controls are not the first time Beijing has leveraged its dominance in the industry. In 2010, China halted shipments of rare earths to Japan for nearly two months over a territorial dispute. In late 2023, Beijing imposed a ban on rare earth extraction and separation technologies.

Beijing has also curbed exports of other critical minerals that are vital to the economy and global supply chains.

Experts and industry insiders said China’s export controls have left the rest of the world with very limited alternatives. But the US is working to fill the gap.

Since 2020, the US Department of Defense has awarded more than $439 million to establish domestic rare earth element supply chains. And it has set a goal to develop a sustainable, mine-to-magnet supply chain capable of supporting all US defense requirements by 2027.

Some American companies see China’s export controls as an opportunity to expedite domestic production and push for a stronger supply chain outside China.

Nicholas Myers, CEO of Phoenix Tailings, a Massachusetts-based rare earth processing start-up, said his company has developed technology to refine rare earth minerals with “zero waste, zero emissions” into metals and metal alloys, sourcing the materials from domestic ores as well as Canada and Australia.

His company currently produces 40 metric tons of rare earth metals and alloys per year and aims to scale up to 400 tons with a new facility in New Hampshire.

“It’s all domestic processing. We don’t rely on anything from China,” he said.

“The United States absolutely has the capabilities to be able to produce the rare earth metals at the timelines that we really need it. We just have to make sure that all the customers, all the policymakers are focused on supporting the industry to really scale up,” Myers added.

American businesses are making inroads in parts of the supply chain too.

USA Rare Earth is building a magnet plant in Texas, aiming to produce 5,000 tons of rare earth magnets annually; it also owns a deposit rich in heavy rare earths in West Texas, including all the minerals on China’s latest export control list, according to its CEO Ballard. (The deposit is also rich in gallium, a critical material banned by China for export to the US in December.)

But the company is still working on the processing technology to extract minerals from the rocks, Ballard said.

“The question is how do we do this faster? How do we unlock these assets that we have in the US, as few as they are? We need to unlock what we have and build as quickly as we can,” he said.

After years of talk, American companies may finally have the impetus they need to do the difficult work of re-establishing the industry for extracting and processing raw materials that is key to winning a tech race with China.

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Greenland - >>> Here’s why Musk, Bezos, Gates and Thiel really all want a piece of Greenland


New York Post

by Lydia Moynihan

3-28-25


https://www.msn.com/en-us/news/technology/here-s-why-musk-bezos-gates-and-thiel-really-all-want-a-piece-of-greenland/ar-AA1BQNhB?ocid=hpmsn&cvid=a64643661a3a44a8bdcd221efb9c833b&ei=70


The US delegation’s planned visit to Greenland — led by Vice President JD Vance and second lady Usha Vance — has captured the imagination of top political officials and tech billionaires alike, even as Prime Minister Mute Egede slammed the trip as being “highly aggressive.”

While recent excitement about the vast, frigid island has puzzled me, Silicon Valley sources (who take credit for the idea of buying Greenland) view it as deeply tied to America’s ambitions in space and information technology — especially concerning AI. They also see it as a critical “play for the future,” as one source put it.

Notable tech figures have shown varying degrees of support. Elon Musk is all for purchasing Greenland and Peter Thiel backs the idea of establishing an autonomous colony on the island. Jeff Bezos and Bill Gates have advocated for mining projects because of the wealth of natural resources, like rare earth minerals, critical for high-tech manufacturing.

“Take what’s needed for the US to maintain information technology dominance: data storage and computing power deployment,” Tom Dans, former commissioner of the US Arctic Research Commission, told me. “Greenland offers abundant potential energy, strategic metals and minerals, and proximity to key US population centers — all in a highly controllable environment.”

It’s roughly 1,800 miles from New York City to the capital of Nuuk, where freezing temperatures offer a hospitable climate for energy-intensive data centers. The island’s isolation reduces physical security risks faced by mainland US data plants.

“Greenland’s strategic importance to the United States goes beyond its frozen landscape … far into space. President Trump gets this. Elon understands it better than anyone,” Dans adds. “Telemetry, tracking, missile intercepts, early warning systems and Northern latitude launch sites are all part of America’s Arctic past, present and future. Greenland is key.”

The Arctic location could also be strategic for military defense and surveillance — which is partly why Chinese companies seek a foothold, too.

While the idea of annexation gained traction in Silicon Valley nearly a decade ago — in part from startups like Thiel-backed Praxis, which aims to build a futuristic, autonomous city in Greenland — since then the vision has expanded.

Sources note that the Danish territory’s proximity to the Arctic Circle also offers an ideal trajectory for polar orbits, providing a clear path for space launches that avoids densely populated areas — unlike Florida or Texas, where safety and airspace restrictions complicate operations.

Its vast, uninhabited expanses and stable climate also minimize weather delays and land-use conflicts, making it a potentially superior US spaceport site.

And tech’s role in keeping the dream of Greenland alive is reflected in President Trump’s pick for ambassador to Denmark: Ken Howery, a “PayPal Mafia” member who co-founded Founders Fund with Peter Thiel and is a friend of Elon Musk. He is still awaiting confirmation but, in Trump’s first term, Howery served as ambassador to Sweden — gaining insight into the Arctic Circle’s security and geopolitical importance.

Of course, Greenland’s PM Muté Egede has said, “We don’t want to be Americans” and there is no indication that Denmark would agree to any kind of deal.

And there are major issues with the land itself as well. Cold War-era chemical waste, including diesel fuel and radioactive materials buried by the US military beneath melting ice, could complicate development.

Nevertheless, Americans will expand their presence in Greenland further this summer when United Airlines launches direct flights between New York and Nuuk.

Fittingly, the first flight takes off June 14 — Flag Day and Donald Trump’s birthday.

One more Silicon Valley source told me that a possible American acquisition is “the best thing that could happen to Greenland and its residents. You could either get access to all the resources of the United States or remain a small, isolated island.”

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>>> Trump invokes emergency powers to boost US critical minerals production


Reuters

by Jarrett Renshaw and Ernest Scheyder

March 20, 2025


https://www.reuters.com/world/trump-says-us-sign-minerals-deal-with-ukraine-shortly-2025-03-20/


WASHINGTON, March 20 (Reuters) - U.S. President Donald Trump on Thursday invoked emergency powers to boost domestic production of critical minerals used widely across the economy as part of a broad effort to offset China's near-total control of the sector.

The move is the latest by Trump to increase U.S. energy and minerals production and comes amid an escalating trade conflict with China, Canada and other large minerals producers that supply American manufacturers.

Lithium, nickel and other critical minerals are used in many electronics, and demand is expected to surge in coming years for production of electric-vehicle batteries. China is the world's largest producer or processor of many critical minerals.

Trump signed an executive order that taps the Cold War-era Defense Production Act (DPA) as part of an effort to provide financing, loans and other investment support to domestically process a range of critical minerals.

The DPA gives the Pentagon wide berth to procure equipment necessary for national defense. Invoking it essentially declares that relying on rival nations for critical minerals constitutes a national security threat.

"The United States was once the world's largest producer of lucrative minerals, but overbearing federal regulation has eroded our nation's mineral production," the president said in the order.

The order directs federal agencies to create a list of U.S. mines that can be quickly approved as well as which federal lands, including those controlled by the Pentagon, could be used for minerals processing.

The U.S. currently produces very little lithium and nickel; its only cobalt mine shuttered last year amid intense Chinese competition.

The U.S. does have multiple copper mines, but only two smelters to process the red metal into pipes, wiring and other components.

The U.S. has only one mine for rare earths, which are used to make magnets that turn power into motion.

Late last year, Beijing imposed an outright ban on exports of gallium, germanium and antimony to the United States, causing U.S. manufacturers to scramble for alternative supplies of those niche-but-vital materials.

The order also encourages faster permitting for mining and processing projects and a directive for the Interior Department to prioritize mineral production on federal land. The order directs agencies to help boost U.S. output of copper and gold, neither of which is considered a critical mineral by the U.S. Geological Survey.

An executive order from Trump had long been sought by U.S. miners, many of which had long complained that bureaucratic delays hampered output.

"Ramping up American mining is a national security imperative and President Trump's strong action recognizes that," said Rich Nolan, head of the National Mining Association trade group.

The Defense Production Act is a 1950 law that former President Harry Truman deployed to ramp up steel production for the Korean War.

Former President Joe Biden also invoked the law to encourage domestic production of critical minerals, adding battery materials such as lithium, nickel, graphite, cobalt and manganese to the list of items covered under the measure to help companies access $750 million in funds.

Former Newmont executive David Copley has been named to oversee the mining portfolio for the U.S. National Energy Dominance Council, two sources familiar with the appointment told Reuters. Copley will be the highest-ranking person in the federal government shaping mining policy, one of the sources said.

Trump also said on Thursday that the United States will sign a minerals and natural resources deal with Ukraine shortly. Last month he ordered a probe into potential new tariffs on copper imports.

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>>> Ukraine expected to sign a deal with Trump giving U.S. access to its rare minerals—but almost half are impossible to get to


Fortune

by Eleanor Pringle

February 26, 2025


https://www.yahoo.com/news/ukraine-expected-sign-deal-trump-125429823.html


Ukrainian President Volodymyr Zelensky and President Donald Trump are getting closer to a deal on rare minerals.

Ukraine is nearing a deal to grant the U.S. access to its rare minerals in exchange for continued political and, perhaps, military support, though negotiations face challenges since 40% of these resources are in Russian-occupied territory. With Trump pushing for access to these minerals while also engaging in talks with Russia, Ukraine faces uncertainty over its strategic partnerships as it navigates its war effort and economic future.

Ukrainian President Volodymyr Zelensky is reportedly inching closer to signing a deal that gives the U.S. access to Ukraine’s rare minerals in return for continued political support in its war with Russia.

With the deal unsigned and Ukrainian officials letting little slip—barring brief quotes given to the Financial Times and the BBC—details of what access to such materials could mean for America’s economy and Ukraine’s war efforts are still relatively unknown.

That being said, information about what materials Ukraine has and where they are located presents snags for negotiations. Namely, Ukraine can’t promise access to all its materials when a reported 40% of the minerals are under land currently occupied by Russia.

On top of that, the main motivation for Zelensky agreeing to swap minerals is likely to be in return for military aid from America—which Ukrainian officials say has not been explicitly penciled into the draft.

Despite this, yesterday sources in Kyiv confirmed the terms to share materials—including oil and gas—are almost agreed after months of negotiation.

Olha Stefanishyna, Ukraine’s deputy prime minister and justice minister, told the FT that “the minerals agreement is only part of the picture. We have heard multiple times from the U.S. administration that it’s part of a bigger picture.”

The proposal was reportedly first tabled by Zelensky in September, when he shared with the then presidential hopeful a “victory plan.”

Since then negotiations have gone back and forth on whether America would be handed the rare minerals directly, or whether it would have a stake in a fund paid for by proceeds from Ukraine’s resources, per reporting from the FT.

What are the rare minerals President Trump wants to get hold of?

According to the Ukrainian Geological Survey, a central executive body based in Kyiv, the nation’s resource potential for green technology is one of the “richest in the world” courtesy of its rare mineral deposits.

For America—which is seeking to wean itself off a dependency on China for materials to build the likes of EVs, for example—this is an attractive opportunity.

Conveniently, the White House has supported the Ukrainian effort to the tune of more than $100 billion. President Trump seemingly wants to call that debt in, previously requesting access to 50% of its rare minerals.

“Ukraine is among the top 10 producing countries for titanium, zirconium, graphite, and manganese, and also has proven reserves of metals such as lithium, beryllium, rare-earth elements, and nickel,” the Ukrainian Geological Survey adds.

Lithium, magnesium, graphite, and nickel are all core components in building electric vehicle batteries, for example.

But Ukraine’s resource potential also reaches into the industries of defense, tech, aerospace, and green technologies.

Per the World Economic Forum, Ukraine holds 7% of the world’s reserves of titanium, and is “one of the few countries that mine titanium ores, crucial for the aerospace, medical, automotive, and marine industries.”

“Ukraine boasts confirmed deposits of beryllium, which is crucial for nuclear power, aerospace, military, acoustic, and electronic industries, as well as uranium, which is essential for nuclear and military sectors,” the WEF continues.

Are the minerals easy to access?

Zelensky and Ukrainian research bodies have continually warned that the state now doesn’t have access to around half of the resources it previously held.

Given Russia’s invasion of Ukraine in 2022, think tank We Build Ukraine, for example, says 40% of the reserves are now inaccessible owing to Russian occupation.

Moreover, the European country has been at war for three years, presenting major infrastructure and safety issues if the resources are to be recovered.

James Cowan, CEO of the HALO Trust, a humanitarian demining organization which is working in Ukraine, warned earlier this month that the nation is now at the mercy of 150,000 square kilometers planted with explosives and mines.

“Any proposals to tap Ukraine’s mineral wealth will need to incorporate a plan for the clearance of the land mines if it is to be remotely viable,” he warned at a security conference.

Russian diplomats are reportedly drawing up proposals to deter America from closer ties to Ukraine—using the minerals under occupation as bait.

NBC reported this week that advisors to President Vladimir Putin had approached the Trump administration about agreeing to terms to access minerals in Donetsk and Zaporizhzhya, two areas which have been annexed by the Russians.

How does this help Ukraine?

The transition of relations from the Biden administration to the Trump team has been a bumpy one for Ukrainian officials.

President Trump has called the Ukrainian politician a dictator and accused him of starting the conflict with Russia.

“Zelensky better move fast or he is not going to have a country left,” the president added on his social media platform, Truth Social. “In the meantime, we are successfully negotiating an end to the war with Russia, something all admit only ‘TRUMP,’ and the Trump administration, can do.”

This message has been parroted by Trump ally and the richest man in the world, Elon Musk, who wrote on X—the social media platform he owns—that: “Either Zelensky holds an election to prove that he represents the will of the people or he is a dictator.”

Trump, meanwhile, has declined to call President Putin a dictator and told media in France earlier this month: “I don’t use those words lightly.”

With billions of dollars in aid and significant political influence over the rest of the world, Washington, D.C., isn’t a friend Ukraine can afford to lose in the face of a continued Russian onslaught.

President Trump’s tone was more accommodating yesterday when discussing military support for Ukraine alongside the raw minerals deal.

He told reporters: “We’ll be looking at security, you’re talking about general security for Ukraine later on. I don’t think that’s going to be a problem, there are a lot of people who want to do it. I spoke with Russia ... they’re not going back in. Once we do this they’re not going back in.”

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>>> Congo Sues Apple Alleging ‘Pillaged’ Minerals in Products


Bloomberg

by William Clowes

12-17-24


https://www.msn.com/en-us/money/other/congo-sues-apple-alleging-pillaged-minerals-in-products/ar-AA1w1a6I?ocid=TobArticle


(Bloomberg) -- The Democratic Republic of Congo filed lawsuits against Apple Inc. in France and Belgium accusing the company of using minerals “pillaged” from the central African nation in its products.

Congo’s lawyers have initiated criminal complaints against the US tech giant’s subsidiaries in the two European countries “over the contamination of Apple’s supply chain” with “blood minerals,” according to a statement on Tuesday from Amsterdam & Partners LLP, a law firm working for Congo’s government.

Eastern Congo, which is rich in tin, tungsten and tantalum — minerals widely used in electronics including the iPhone — has been wracked by conflicts involving its armed forces and dozens of militant groups for about three decades. The administration of President Felix Tshisekedi accuses neighboring Rwanda of fueling the violence and providing a conduit for traders to smuggle minerals and gold out of Congo. Rwanda has long denied the allegations.

The complaints allege that Apple uses minerals that have been “laundered through international supply chains.” They also claim that the firm has deployed “deceptive commercial practices to assure consumers that the tech giant’s supply chains are clean.”

In a statement, Apple said it strongly disputes the claims.

“We’re deeply committed to responsible sourcing, and we hold our suppliers to the highest standards in industry,” the company said. “As conflict in the region escalated earlier this year, we notified our suppliers that their smelters and refiners must suspend sourcing tin, tantalum, tungsten and gold from the DRC and Rwanda.”

Apple said it took that step because it was “concerned it was no longer possible for independent auditors or industry certification mechanisms to perform the due diligence required to meet our high standards.”

The majority of those minerals used in Apple products are recycled, the company said, “including 99% recycled tungsten across all products, and we are using 100% recycled cobalt in Apple-designed batteries across the iPhone 16 lineup.”

Congo’s international legal team is tasked with pursuing individuals and companies involved in the “extraction, supply and commercialization of natural resources” that have driven “a cycle of violence and conflict by financing militias and terrorist groups,” according to the law firm’s statement.

Government spokesman Patrick Muyaya confirmed the country had filed the lawsuit, without providing more details.

This is the first case Congo has filed as part of a strategy to pressure end users who may be using products reliant on minerals that were smuggled or have contributed to conflict. According to a spokesperson for Amsterdam & Partners, ?the French and Belgium judicial systems are well suited for these kinds of legal actions.

Last year, Congo and Rwanda produced more than 60% of the tantalum used in the world’s portable electronics, according to the US Geological Survey.

In its statement, Apple said it recognizes that the situation is “very challenging” and has increased support to organizations that help communities in the region.

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Rickards - >>> Uranium Wars


By James Rickards

December 14, 2024


https://dailyreckoning.com/uranium-wars/


Uranium Wars

Uranium production is best understood as an industry played out on a geopolitical chessboard.

Enriched uranium is used to fuel nuclear reactors. The degree of enrichment is not high. Natural uranium (sometimes called yellowcake) has about 0.7% U-235 isotope. This is enriched to 3% to 5% for use in most reactors (called low-enriched uranium or LEU). Some specialized reactors require uranium enriched to 20% U-235 isotope, but those are rare.

Uranium is also used in nuclear weapons, especially fusion thermonuclear bombs. Those are enriched to a minimum of 20% U-235 and more often are enriched to 90% U-235 (highly enriched uranium, HEU) for the most powerful weapons.

Uranium itself is not rare, but its mining and production are controlled by only a few countries working with source countries. The real stranglehold on HEU is the enrichment process itself, which is highly technical and, again, controlled by a handful of countries.

Countries with large or expanding nuclear arsenals (U.S., Russia, China and North Korea) will do what they have to do to obtain HEU. They are not price sensitive, but they are not large drivers of the world price either. The main driver is the demand for LEU for use in nuclear reactors. The two leading builders of nuclear reactors, both for domestic use and for export, are Russia and France. (The U.S. has good nuclear reactor technology and building capacity, but it is highly constrained by regulations as part of the green new scam).

France’s yellowcake comes almost exclusively from Niger. Russia has diverse sources including Russia itself, Kazakhstan, Uzbekistan and now Ukraine. China gets uranium from inside China and Namibia and South Africa. India sources uranium from mainly inside India.

A recent coup d’état in Niger has thrown France’s supply situation into turmoil. There is no evidence yet that Russia planned the coup; it was most likely indigenous. When I traveled in West Africa and Central Africa in the early 1980s, I was accustomed to staying in hotels with artillery shells and machine gun bullet holes in the facades from the last coup.

Still, it is clear that Russia is fanning the flames among the revolutionary forces and helping to keep the coup forces alive. The U.S. and UK conducted a clandestine coup in Ukraine in 2014 that deposed a pro-Russian president. One can almost hear Putin saying to himself, “Two can play.”

Meanwhile, France failed in its efforts to organize a multilateral force around the Economic Community of West African States (ECOWAS). France proposed to supply well-trained French Foreign Legion and other special forces to the effort. U.S. efforts to intervene have also failed.

Russia’s reaction was to deploy Wagner Group mercenaries to support the coup. What is likely at this point is more chaos and at least a temporary cut-off of exports of uranium from Niger.

My first visit to the Niger capital of Niamey was memorable. It happened in 1981, over forty years ago. Niamey is completely surrounded by the Sahara Desert. It’s not near the desert; it’s in the desert. When it was built, it was more of an oasis on the Niger River but the Sahara is highly dynamic. It moves, sometimes hundreds of miles in any direction, creating more desert and even leaving green areas behind that become more fertile. Niamey was a place that was swallowed by the Sahara.

I was there as a senior officer of Citibank from the head office in New York checking in on the Niamey branch. (I covered francophone Africa at the time including Côte D’Ivoire, Senegal, and the Congo, formerly Zaire). My hotel room was interesting. The shower was a marked-off area of the bedroom with a drain and a small fringe to keep water from spreading. There was no shower curtain. The shower itself was a hose with a garden-type nozzle. It worked fine.

I looked out the window in the morning and saw something I had only seen in movies and never expected to see in real life – a caravan. It was a real one with camels tied together in a line laden with goods and camel drivers riding a few, and some herders walking alongside. They wore turbans and robes and were headed out into the desert. I’m not sure where they were going. Timbuktu is not far in case you’re in the neighborhood.

Finally, I made it to the office and sat across from the Chief Country Officer. Before we got down to business, I told the Chief I had a question.

“I understand what I’m doing here, but what are we doing here? Why on earth does Citibank have an office in such a primitive and deserted place?”

The Chief looked at me like I was the new kid on the block. (I was). He answered my question with one word: “Uranium.”

He went on, “We’re here to keep an eye on the uranium and keep an eye on the French. We use finance as needed as a tool to maintain economic control.”

At that time, it wasn’t unusual for the CIA to use bank and energy company officials as sources working under non-official cover. I quickly understood what I had walked into.

I suppose the hotels are nicer today and the caravans are mostly gone. What has not changed is the importance of uranium and the competition among the U.S., Russia and France for access. Now that the French presence has been ejected and the U.S. presence has been stymied, we’ll see how things play out.

More chaos and possibly war are next on the agenda. That creates its own uncertainties. What is certain is that Russia will be the winner. The chaos alone will result in a higher price for uranium. If Russia prevails, they will tighten their stranglehold on global supply and leave the French in desperate straits.

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>>> United States Antimony Corporation (UAMY) produces and sells antimony, silver, gold, precious metals, and zeolite products in the United States, and Canada. It operates through Antimony, Zeolite, and Precious Metals segments. The company offers antimony oxide that is primarily used in conjunction with a halogen to form a synergistic flame retardant system for plastics, rubber, fiberglass, textile goods, paints, coatings, and paper, as well as color fastener in paints and as a phosphorescent agent in fluorescent light bulbs; antimony trisulfide used as a primer in ammunition; and antimony metal for use in bearings, storage batteries, and ordnance.

The company also offers coarse and fine zeolite for soil amendment and fertilizer, water filtration, sewage treatment, nuclear waste and other environmental cleanup, odor control, gas separation, and animal nutrition applications, as well as in catalysts, petroleum refining, concrete, solar energy and heat exchange, desiccants, pellet binding, horse and kitty litter, and floor cleaners, as well as carriers for insecticides, pesticides, and herbicides. In addition, it recovers unrefined and refined gold and silver. United States Antimony Corporation was founded in 1968 and is based in Thompson Falls, Montana.

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https://finance.yahoo.com/quote/UAMY/profile/


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>>> China bans exports to US of gallium, germanium, antimony in response to chip sanctions


AP

by ELAINE KURTENBACH

11-3-24


https://www.msn.com/en-us/technology/tech-companies/china-bans-exports-to-us-of-gallium-germanium-antimony-in-response-to-chip-sanctions/ar-AA1vbcvF?ocid=TobArticle


BANGKOK (AP) — China announced Tuesday it is banning exports to the United States of gallium, germanium, antimony and other key high-tech materials with potential military applications, as a general principle, lashing back at U.S. limits on semiconductor-related exports.

The Chinese Commerce Ministry announced the move after the Washington expanded its list of Chinese companies subject to export controls on computer chip-making equipment, software and high-bandwidth memory chips. Such chips are needed for advanced applications.

The ratcheting up of trade restrictions comes as President-elect Donald Trump has been threatening to sharply raise tariffs on imports from China and other countries, potentially intensifying simmering tensions over trade and technology.

China's Foreign Ministry also issued a vehement reproof.

“China has lodged stern protests with the U.S. for its update of the semiconductor export control measures, sanctions against Chinese companies, and malicious suppression of China’s technological progress," Lin Jian, a Chinese Foreign Ministry spokesperson, said in a routine briefing Tuesday.

"I want to reiterate that China firmly opposes the U.S. overstretching the concept of national security, abuse of export control measures, and illegal unilateral sanctions and long-arm jurisdiction against Chinese companies,” Lin said.

The minerals sourced in China are used in computer chips, cars and other products

China US Tech Sanctions

China said in July 2023 it would require exporters to apply for licenses to send to the U.S. the strategically important materials such as gallium and germanium. In August, the Chinese Commerce Ministry said it would restrict exports of antimony, which is used in a wide range of products from batteries to weapons, and impose tighter controls on exports of graphite.

Such minerals are considered critical for national security. China is a major producer of antimony, which is used in flame retardants, batteries, night-vision goggles and nuclear weapon production, according to a 2021 U.S. International Trade Commission report.

The limits announced by Beijing on Tuesday also include exports of super-hard materials, such as diamonds and other synthetic materials that are not compressible and extremely dense. They are used in many industrial areas such as cutting tools, disc brakes and protective coatings. The licensing requirements that China announced in August also covered smelting and separation technology and machinery and other items related to such super-hard materials.

China Tech Sanctions

China is the biggest global source of gallium and germanium, which are produced in small amounts but are needed to make computer chips for mobile phones, cars and other products, as well as solar panels and military technology.

China says it's protecting itself from US trade restrictions

After the U.S. side announced it was adding 140 companies to a so-called “entity list” subject to strict export controls, China’s Commerce Ministry protested and said it would act to protect China’s “rights and interests.” Nearly all of the companies affected by Washington's latest trade restrictions are based in China, though some are Chinese-owned businesses in Japan, South Korea and Singapore.

Both governments say their respective export controls are needed for national security.

China's government has been frustrated by U.S. curbs on access to advanced processor chips and other technology on security grounds but had been cautious in retaliating, possibly to avoid disrupting China’s fledgling developers of chips, artificial intelligence and other technology.

Various Chinese industry associations issued statements protesting the U.S. move to limit access to advanced chip-making technology.

The China Association of Automobile Manufacturers said it opposed using national security as a grounds for export controls, “abuse of export control measures, and the malicious blockade and suppression of China.”

“Such behavior seriously violates the laws of the market economy and the principle of fair competition, undermines the international economic and trade order, disrupts the stability of the global industrial chain, and ultimately harms the interests of all countries,” it said in a statement.

The China Semiconductor Industry Association issued a similar statement, adding that such restrictions were disrupting supply chains and inflating costs for American companies.

“U.S. chip products are no longer safe and reliable. China’s related industries will have to be cautious in purchasing U.S. chips,” it said.

The U.S. gets about half its supply of both gallium and germanium metals directly from China, according to the U.S. Geological Survey. China exported about 23 metric tons (25 tons) of gallium in 2022 and produces about 600 metric tons (660 tons) of germanium per year.

The U.S. has deposits of such minerals but has not been mining them, though some projects underway are exploring ways to tap those resources.

The export restrictions have had a mixed impact on prices for those critical minerals, with the price of antimony more than doubling this year to over $25,000 per ton. Prices for gallium, germanium and graphite also have mostly risen.

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>>> First Atlantic Drills New Discovery at RPM Zone with 394 Meters of Visually Disseminated Awaruite, 10 km South of Super Gulp Zone


First Atlantic Nickel Corp.

November 12, 2024


https://finance.yahoo.com/news/first-atlantic-drills-discovery-rpm-110000138.html


VANCOUVER, British Columbia, Nov. 12, 2024 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to provide an update on ongoing drilling at its 100% owned, multi-zone, district-scale Atlantic Nickel Project in central Newfoundland, Canada (the "Atlantic Nickel Project" or the "Project"). Drilling in the RPM Zone has resulted in a new discovery of disseminated, visible, sulfur-free nickel-iron alloy (awaruite) throughout a 394-meter hole located 10 km south of the Super Gulp Zone and 25 km south of historic drilling at Atlantic Lake. This drill hole follows the recent discoveries of multiple new zones containing visible awaruite across the Project's 30 km nickel trend during the summer sampling program.

Highlights:

First Discovery Hole at RPM Zone: The first hole at RPM was drilled to 394 meters, intersecting visible, disseminated nickel-iron alloy (awaruite) mineralization from the surface throughout the entire drill hole.

Major Step Out Drilling: The RPM Zone discovery is located 25 km south of historic drilling at Atlantic Lake and 10 km south of Super Gulp discovery.

Large Awaruite Grain Size: Large disseminated awaruite grains, visible to the naked eye, increase in size down hole, frequently exceeding 25 microns. Numerous 500+ micron sized grains were observed throughout the drill hole, well above the 10-micron threshold for effective magnetic separation1.

Confirmed Nickel & Chromium Presence: An XRF analyzer confirmed the presence of nickel and chromium throughout the drill hole. Samples are now being prepared for assays, with results expected in the coming months.

Ongoing Drilling at RPM Target: The drill program continues to test the high-priority RPM target, with ongoing drilling to expand the size and definition of the mineralized area.

Potential for Low-Cost Mining: The drilling has revealed heavily fractured, broken, and sheared serpentinized nickel host rock, which may allow for lower-cost initial mining methods like ripping instead of conventional drilling and blasting.

Smelter-Free Nickel: Awaruite (Ni3Fe), a sulfur-free nickel-iron alloy, allows for magnetic processing without smelting, potentially creating a resilient North American nickel supply chain.

For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by phone at [phone] or via email at [e-mail]

RPM Zone Drill Hole 001 Highlights:

Visible Disseminated Awaruite: Visible disseminated awaruite was observed from the surface to 394 meters, with the hole ending in zones of coarser-grained mineralization.

Increasing Grain Size with Depth: Awaruite grain sizes increase with depth, starting at up to 200 microns and reaching over 500 microns in coarser zones.

Open at Depth: Mineralization remains open at depth, with additional drilling planned to further define and expand the zone.

Significant Discovery: The RPM Zone represents a significant discovery within the ongoing exploration program, with high priority for further exploration to assess its extent and potential.

Ongoing Drilling at RPM Target: The drill program continues to test the high-priority RPM target, where the largest visible awaruite grains were discovered during the summer 2024 surface sampling program. Drilling is ongoing at the RPM Zone to expand the size and better define the footprint of the mineralized area.

Drill Hole 001 (AN-24-02) at the RPM Zone was drilled to the east at a -60 degree dip, penetrating less than 10 meters of overburden before intersecting heavily serpentinized ultramafic rock. Visible disseminated awaruite was observed from the surface to 394 meters, where the hole ended in zones of coarse-grained mineralization, suggesting the potential for significant awaruite accumulations. Throughout the core, awaruite grain sizes were noted to increase with depth, starting with grains up to 200 microns and reaching over 500 microns in coarser zones. The rock matrix ranged from dark to pale brown to green, exhibiting a brecciated style texture due to numerous fractures and veins of serpentine and magnetite. This mineralization remains open at depth, prompting the Company to plan additional drilling to further define and expand the zone.

The RPM Zone itself was a significant discovery made in the summer of 2024 by geologists Dr. Ron Britten, Pearce Bradley, and Michael Piller during regional exploration of the ophiolite belt. Their work identified high-priority areas through subcrop and float samples near the end of a 30 km high magnetic ophiolite sequence. Surface sampling in 2024 detected mineralized ultramafic boulders with abundant awaruite, leading to discovery drilling that confirmed the mineralization in the core. Furthermore, an increase in chromium was observed, with chromite appearing as a lustrous metallic black mineral within the rock.

The successful identification of coarse grained awaruite at the surface, and in drilling, highlights the significance of the RPM Zone. This area will be prioritized for further exploration to assess its extent and potential, as it represents a significant discovery within the ongoing exploration program.

Adrian Smith CEO Quote

"We are thrilled with the continued success at the Atlantic Nickel Project, as we discover coarse-grained nickel-alloy in the first-ever drill hole at the RPM Zone, located approximately 10 km south of the Super Gulp area. This discovery extends known mineralization 25 km from the Atlantic Lake area, with visible awaruite disseminated within the ultramafic rock unit, which is part of the large-scale ophiolite located on the property.

I want to congratulate the project geologists and field team, with the aid of Dr. Ron Britten, PhD, for their early success leading to this discovery, finding significant visible mineralization in the drilling. Our strategy continues to focus on identifying and establishing areas with large volumes of nickel alloy, with the goal to uncover a district-scale nickel project.

The 2024 exploration program has yielded remarkable results, not only with this major discovery but also with similar findings from other areas within the 30km ophiolite trend. These findings indicate the presence of multiple high-potential zones, suggesting the possibility of a larger nickel district. We look forward to providing additional updates as our exploration progresses, with a focus on expanding the scale of our step-out drilling to further delineate the extent of this exciting new discovery."

Awaruite (Nickel-iron alloy Ni2Fe, Ni3Fe)

Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni3Fe or Ni2Fe with approximately ~75% nickel content, offers a proven and environmentally safer solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing without the need for smelting. Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC)2. These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing.

The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel"3. Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining.

The development of awaruite resources is crucial, given China's dominance in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply5. Awaruite offers an environmentally safer, more sustainable, and domestically processable nickel source to meet the growing demand in stainless steel and electric vehicles while reducing reliance on foreign refining and smelting dominated by China. By developing awaruite resources, North America can strengthen the resilience and security of its critical nickel supply chain.

Corporate Update

The Company is also pleased to announce that it has engaged the services of Independent Trading Group (ITG), Inc. ("ITG") to provide market-making services in accordance with the policies of the TSX Venture Exchange (the "TSXV"). Pursuant to the engagement, ITG will trade common shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.

Under the agreement, ITG will receive compensation of C$5,000 per month, plus taxes, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice.

There are no performance factors contained in the agreement and ITG will not receive shares or options of the Company as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals held an interest, directly or indirectly, in the securities of the Company. ITG is a member of the Canadian Investment Regulatory Organization (CIRO) and can access all Canadian stock exchanges and alternative trading systems. The capital and securities required for any trade undertaken by ITG as principal will be provided by ITG.

About Independent Trading Group

Independent Trading Group (ITG) Inc. is a Toronto-based IIROC dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

Newfoundland Government JEA Program

First Atlantic would like to thank the government of Newfoundland & Labrador for financial support through the Junior Exploration Assistance (JEA) program for exploration activities at the Atlantic Nickel Project. The Company anticipates providing further updates on its ongoing programs shortly.

Investor Information

The Company's common shares trade on the TSX Venture Exchange under the symbol "FAN", the American OTCQB Exchange under the symbol “FANCF” and on several German exchanges, including Frankfurt and Tradegate, under the symbol "P21".

Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com. Stay connected and learn more by following us on these social media platforms:

https://x.com/FirstAtlanticNi
https://www.facebook.com/firstatlanticnickel
https://www.linkedin.com/company/firstatlanticnickel/

FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: [phone]
[e-mail]

Disclosure

Adrian Smith, P.Geo., is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.

The Company has not independently verified the historic samples reported in this release but has received data from the previous property owners and from the Government of Newfoundland and Labrador’s online database.

About First Atlantic Nickel Corp.

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel deposit strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6.

First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.

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More on Spruce Pine, NC - >>> How a tiny town hit by Helene could upend the global semiconductor chip industry


by Megan Cassella

CNBC

10-4-24


https://www.msn.com/en-us/money/markets/how-a-tiny-town-hit-by-helene-could-upend-the-global-semiconductor-chip-industry/ar-AA1rF0G4?cvid=a0cb713a342f45f3a92a5e78828ac922&ei=64


Virtually all of the world’s supply of a mineral that is critical to semiconductor production comes from one tiny town in the foothills of the Blue Ridge Mountains that has been devastated by Hurricane Helene.

Spruce Pine, North Carolina has no running water or electricity, more than a week after Helene ripped through the town of 2,200. Roads and railways in and out of the area are severely damaged, according to local officials.

Mines in Spruce Pine produce the world’s purest form of quartz, which plays a central role in chip manufacturing.

Now, the town’s exceedingly valuable supply of high-purity quartz is at risk, threatening to cripple the $600 billion global semiconductor industry.

The natural disaster unfolding in Spruce Pine also highlights the continued instability of global supply chains, more than four years after Covid-19 drove home to Americans how dependent they had become on imported goods.

Two companies, Sibelco and The Quartz Corp., extract the high-purity quartz in Spruce Pine, refine it and export it to manufacturing facilities based primarily in China and other parts of Asia.

Much of the refined, high-purity quartz is then used to create a vessel called a crucible, which holds silicon as it is melted and transformed into the wafers on which semiconductors are made.

But mining, refining and shipping are all on hold, for now.

Both Sibelco and the Quartz Corp. were forced to halt operations on Sept. 26 due to the storm, which dumped more than two feet of rain on Spruce Pine, according to the National Weather Service.

The companies say there is no timeline right now as to when they expect to resume normal operations.

“The Spruce Pine community has been hit particularly hard,” Sibelco said in a statement on Sept. 30. “We have temporarily halted operations at the Spruce Pine facilities in response to these challenges.”

The Quartz Corp. said in an Oct. 1 statement that the company has “no visibility” as to when their operations will be able to resume.

For the semiconductor industry, the challenges that any long-term disruption to the Spruce Pine mines would present cannot be overstated, experts say.

“This is the only plant in the world right now that serves the semiconductor industry in its entirety,” said TECHCET CEO Lita Shon-Roy, who has studied the quartz supply chain for more than two decades. “If something were to happen to these mines, it can put the entire industry on its ear, period. There’s no other capability.”

What happens next, experts say, is a two-part question. First, operators need to determine whether there has been any damage to the quartz mines themselves, or to the equipment the companies use to extract or refine the mineral.

If mining operations can start up again, the secondary question is how either company will transport refined quartz to export markets, given the state of some of the infrastructure in western North Carolina.

TECHCET estimates it could be four to six weeks before the companies’ operations are running at full throttle again. But that forecast, Shon-Roy says, is dependent on roads opening back up, given that both companies rely primarily on trucking to move their minerals.

Early indications, however, are that transit infrastructure will require extensive rebuilding.

“Roads are gone,” said Spencer Bost, the executive director of Downtown Spruce Pine, a nonprofit that partners with the city. In some areas, he said, “The roads just don’t exist anymore.”

When it comes to electricity, said Bost, “it’s not like power lines are down — telephone poles are gone.”

Yet there are still two glimmers of hope for the semiconductor industry.

The first is that there is likely some inventory of high-purity quartz stockpiled for the components it helps create. This could give the industry a cushion of two or three months, while Spruce Pine recovers from Helene, Shon-Roy said.

As the semiconductor industry emerges from its own downturn, demand has been fairly soft, said Shon-Roy. Additionally, ever since the pandemic most companies have been keeping larger inventories in stock.

“That will help cushion the delay in getting these plants restarted,” Shon-Roy said.

The other upside: The crucibles that quartz is used to create have a shelf life of about 300 to 400 hours — or roughly two weeks — before they need to be replaced, said Dustin Mulvaney, an environmental studies professor at San Jose State University who studies solar energy commodity chains.

As a result, there could be some lag before chip manufacturers are hurting for more.

“But once they start having to replace the crucibles, that’s where you will run into the potential for disruption,” Mulvaney said.

The longer it takes for Spruce Pine’s mining industry to get back to work, the bigger the impact will be.

“A month’s delay is not bad,” said Shon-Roy. “Two months is getting difficult. Three months becomes a real problem.”

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>>> India, US sign pact to cooperate on critical battery mineral supply chains


Reuters

by David Lawder


https://www.msn.com/en-us/money/companies/india-us-sign-pact-to-cooperate-on-critical-battery-mineral-supply-chains/ar-AA1rFjTP?ocid=BingNewsSerp


WASHINGTON (Reuters) -Indian Trade Minister Piyush Goyal and U.S. Commerce Secretary Gina Raimondo signed an agreement on Thursday to cooperate on strengthening supply chains in the two countries for lithium, cobalt and other critical minerals used in electric vehicles and clean energy applications.

The Commerce Department said in a statement that the memorandum of understanding (MOU), signed during Goyal's visit to Washington, was aimed at building resilience in the sector for each country.

"Priority areas of focus include identifying equipment, services, policies and best practices to facilitate the mutually beneficial commercial development of U.S. and Indian critical minerals exploration, extraction, processing and refining, recycling and recovery," Commerce said.

Goyal, speaking at a Center for Strategic and International Studies in Washington after the signing, described the MOU as a multi-dimensional partnership that would include open supply chains for materials, technology development and investment flows to promote green energy.

He said the U.S. and India would also need to include third countries in their engagement, including mineral-rich countries in Africa and South America.

The MOU, which Reuters first reported was in the works on Monday, falls far short of a full critical minerals trade deal that would allow India to benefit from the $7,500 U.S. electric vehicle tax credit.

Japan last year signed a deal with the U.S. Trade Representative's office that allows Japanese automakers to more fully participate in the credit, aiming to reduce U.S.-Japanese mineral dependence on China and prohibiting bilateral export controls on lithium, nickel, cobalt, graphite, manganese and other minerals.

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Spruce Pine NC - >>> The world's semiconductor industry hinges on a single quartz factory in North Carolina


Tom's Hardware

by Mark Tyson

March 23, 2024


https://www.tomshardware.com/tech-industry/semiconductors/the-worlds-semiconductor-industry-hinges-on-a-quartz-factory-in-north-carolina


The deposits formed 380 million years ago when Africa collided with North America.

Spruce Pine mining facility, North Carolina



A Wharton professor who studies AI, innovation, and start-ups dramatically claims that "the modern economy rests on a single road in Spruce Pine, North Carolina." Ethan Mollick explains that this unremarkable road leads to a Sibelco North America Inc. facility where ultra-high-purity quartz is mined. This location is vitally important as it is claimed to be "the sole supplier of the quartz required to make the crucibles needed to refine silicon wafers."

The modern economy rests on a single road in Spruce Pine, North Carolina. The road runs to the two mines that is the sole supplier of the quartz required to make the crucibles needed to refine silicon wafers.

There are no alternative sources known.

Mollick provides an excerpt from Conway's Material World, which discusses the probable "end of computer chip manufacture as we know it," should something untoward happen at Spruce Pine or in the skies above it.



For further insight into why the Spruce Pine location is so unique, the official Sibelco pages do a pretty good job of encapsulating the story of this particular mine. It is the world’s leading high-purity quartz (HPQ) provider, and the firm claims it produces “the world’s highest quality quartz” at this mine.

Geologically speaking, the uniquely pure minerals at Spruce Mine were created about 380 million years ago when Africa collided with North America. This momentous collision, however slow, caused intense friction and heat miles below the Earth’s surface. According to Sibelco, the Spruce Mine minerals were created by a rich mineral-forming liquid that cooled and crystallized over time. A standout feature of these minerals is that they were made in their purest forms due to a lack of water, which caused all the friction.

In more recent history, it is claimed that the Spruce Pine site has been mined for centuries, with Native American peoples known to have mined Mica. In addition to Mica and the headlining HPQ, the mine is a rich source of kaolin and feldspar.

Spruce pine-sourced minerals were first used for electronics by Thomas Edison, who used Mica as an insulator in some of his inventions as far back as 1879.

The fused quartz from Spruce Pine HPQ offers “unparalleled optical, mechanical, and thermal properties” for semiconductors, solar photovoltaic cells, optical fiber, and quartz lighting.



Returning to the question of Spruce Pine's particular importance, Mollick makes it clear in his social media thread that, yes, fully synthetic techniques are available to create similarly pure quartz. However, any sudden closure or interruption of the mining at Spruce Pine would likely cause "pretty catastrophic" disruption (and extra expense) for a few years as the industry scales up manufacturing.

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>>> US to award $3B to 25 projects for battery manufacturing sector


Reuters

by David Shepardson

September 20, 2024


https://finance.yahoo.com/news/us-award-3-billion-25-090344990.html


The US Energy Department said Friday it plans to award $3 billion to 25 battery manufacturing sector projects in 14 states as the Biden administration works to shift the supply chain away from China.

The projects will increase domestic production of advanced batteries and battery materials and follows the adoption of US EV tax credit rules to shift battery production and critical minerals away from China.

The awards fund battery-grade processed critical minerals, components, battery manufacturing, and recycling, and will generate $16 billion in total investment for the projects and support 12,000 production and construction jobs, the department said.

"Mineral security is essential for climate security," said White House climate adviser Ali Zaidi. "This sets us up to lead on the next generation of battery technologies - from solid state to other new chemistries."

Albemarle is set to receive $67 million for a project in North Carolina to produce commercial quantities of anode material for next-generation lithium-ion batteries, while Honeywell is set to receive $126.6 million to build a commercial-scale facility in Louisiana to produce a key electrolyte salt needed for lithium batteries.

DOE plans to award Dow $100 million to produce battery-grade carbonate solvents for lithium-ion battery electrolytes, while Clarios Circular Solutions, which is partnering with SK ON and Cosmo Chemical, is set to receive $150 million for a project in South Carolina to recycle lithium-ion battery production scrap materials from SK ON, the battery unit of SK Innovation.

Currently most US production scrap is exported by material traders to be processed, mostly in China, DOE said.

DOE plans a $225 million award for production of lithium carbonate by SWA Lithium, jointly owned by Standard Lithium and Equinor, using Direct Lithium Extraction (DLE) technology. DOE also plans to award $225 million to TerraVolta Resources to produce lithium from brine using DLE.

Revex Technologies, a partnership co-founded by Lundin Mining, is set to receive $145 million for three Michigan facilities to turn waste from the only operating US primary nickel mine to yield domestic nickel production for at least 462,000 EV batteries yearly.

DOE plans to award $166 million to South32 Hermosa in Patagonia, Arizona for the mining of high purity manganese sulfate monohydrate (HPMSM) for electric vehicle battery chemistries. Currently over 96% of HPMSM is made in China.

DOE also plans to award $166.1 million for another HPMSM project in Louisiana for Element 25 from manganese ore sourced from an Element 25 mine in Western Australia.

Group14 Technologies is to receive $200 million to develop a US-based silane manufacturing plant in Moses Lake, Washington. The largest source of silane today is China, a material needed for silicon batteries.

Birla Carbon is set to receive $150 million for next-generation synthetic graphite that will not use material from China.

DOE previously awarded $1.82 billion to 14 projects. DOE said the projects selected must complete negotiations and an environmental review before they are awarde

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Palladium - >>> Montana miner to lay off hundreds due to declining palladium prices


Associated Press

September 12, 2024


https://finance.yahoo.com/news/montana-miner-lay-off-hundreds-225135256.html


NYE, Mont. (AP) — The owner of the only platinum and palladium mines in the U.S. announced Thursday it plans to lay off hundreds of employees in Montana due to declining prices for palladium, which is used in catalytic converters.

The price of the precious metal was about $2,300 an ounce two years ago and has dipped below $1,000 an ounce over the past three months, Sibanye-Stillwater Executive Vice President Kevin Robertson said in a letter to employees explaining the estimated 700 layoffs expected later this year.

“We believe Russian dumping is a cause of this sharp price dislocation,” he wrote. “Russia produces over 40% of the global palladium supply, and rising imports of palladium have inundated the U.S. market over the last several years.”

Sibanye-Stillwater gave employees a 60-day notice of the layoffs, which is required by federal law.

Montana U.S. Sens. Steve Daines, a Republican, and Jon Tester, a Democrat, said Thursday they will introduce legislation to prohibit the U.S. from importing critical minerals from Russia, including platinum and palladium. Daines' bill would end the import ban one year after Russia ends its war with Ukraine.

The south-central Montana mine complex includes the Stillwater West and Stillwater East operations near Nye, and the East Boulder operation south of Big Timber. It has lost more than $350 million since the beginning of 2023, Robertson said, despite reducing production costs.

The company is putting the Stillwater West operations on pause. It is also reducing operations at East Boulder and at a smelting facility and metal refinery in Columbus. Leadership will work to improve efficiencies that could allow the Stillwater West mine to reopen, Robertson said.

The layoffs would come a year after the company stopped work on an expansion project, laid off 100 workers, left another 30 jobs unfilled and reduced the amount of work available for contractors due to declining palladium prices.

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>>> ‘Dark oxygen’ on ocean floor may rewrite Earth’s origins of life

Deep sea nodules could be making their own oxygen without sunlight.


Popular Science

BY ANDREW PAUL

JUL 22, 2024


https://www.popsci.com/science/dark-oxygen-ocean/


Polymetallic nodules scattered across bottom of the ocean floor

The formations can be found as deep as 20,000 feet below the ocean's surface.

It’s one of the earliest things you learn in elementary school science class—Earth’s life-sustaining oxygen is produced by plants and algae during photosynthesis using a combination of carbon dioxide and sunlight. But the recent discovery of what researchers call “dark oxygen” may upend conventional notions of how the critical element can be created–and what that might mean for the origins of life.

According to a study published in Nature Geoscience on July 22, natural mineral deposits known as polymetallic nodules located at the bottom of the ocean appear capable of generating oxygen without any source of light. These nodules are found as far as 20,000 feet below the ocean surface and range in size from particles to nodules as large as a human hand. Because they contain combinations of cobalt, copper, lithium, and manganese, they have long been eyed by large-scale mining companies as a potential untapped source of coveted metals needed to produce batteries and other electronics. But as lucrative as they may be for industrial uses, they now seem far more vital to life within ocean ecosystems.

The first indications that something strange was occuring within polymetallic nodules arrived over 10 years ago in a northeastern region of the Pacific Ocean. While on a sampling expedition in the area’s mountainous submarine ridge known as the Clarion-Clipperton Zone, Andrew Sweetman of the Scottish Association for Marine Science (SAMS) noticed odd readings on his equipment.

“When we first got this data, we thought the sensors were faulty because every study ever done in the deep sea has only seen oxygen being consumed rather than produced,” Sweetman says in an accompanying statement. “We would come home and recalibrate the sensors, but, over the course of 10 years, these strange oxygen readings kept showing up.” After double checking the findings using a different sensor array, Sweetman and his team knew they were “onto something groundbreaking and unthought-of.”

In 2023, Sweetman contacted Northwestern University electrochemistry expert Franz Geiger about the strange evidence and sent him multiple pounds of polymetallic nodules. Electrolysis, the process of splitting a target into its separate elements, needs only 1.5 volts to initiate in seawater—and after attaching sensors to a single nodule, Sweetman and Geiger detected voltages as high as 0.95 volts. This power increased even more when they placed the formations close together, much like stacking batteries.

“It appears that we discovered a natural ‘geobattery,’” Geiger says in a statement. “These geobatteries are the basis for a possible explanation of the ocean’s dark oxygen production.”

The existence and possible source of this dark oxygen may eventually rewrite the narrative of how life originated on Earth. As Sweetman explains, experts have long theorized that the planet’s aerobic life began due to oxygen created by photosynthetic organisms like early plants and algae. Now that they know oxygen can be produced even in the ocean’s lightless depths, these theories may need updating.

“I think we… need to revisit questions like: Where could aerobic life have begun?” says Sweetman.

But polymetallic nodules may not have just helped start life on Earth—they may also continue to keep it going near the ocean floor. And this poses a major issue for viewing them as a potential natural mining resource. Geiger explains in Monday’s announcement that 2016 and 2017 examinations by marine biologist examinations of deep sea areas mined during the 1980s revealed total dead zones that lacked even the presence of bacteria.

“Why such ‘dead zones’ persist for decades is still unknown,” Geiger says. “However, this puts a major asterisk onto strategies for sea-floor mining as ocean-floor faunal diversity in nodule-rich areas is higher than in the most diverse tropical rainforests.”

Unfortunately, all that deep ocean biological diversity may mean little to the corporations that view polymetallic nodules as potential profits. Geiger notes that the total mass of all the formations within the 4,500 miles that compose the Clarion-Clipperton Zone is likely enough to supply global energy demands for decades. But as countless examples already show, the destruction of one seemingly distant ecosystem can initiate deadly and dangerous ripple effects elsewhere.

“We need to rethink how to mine these materials, so that we do not deplete the oxygen source for deep-sea life,” Geiger warns.

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Goldman - >>> Gold’s 'record march higher set to continue,' Goldman says


Yahoo Finance

by Ines Ferré·Senior

March 25, 2024


https://finance.yahoo.com/news/golds-record-march-higher-set-to-continue-goldman-says-164325765.html#:~:text=Goldman%20Sachs%20analysts%20upgraded%20their,phase%2C%20barring%20any%20geopolitical%20surprise.


Gold’s roughly 8% month-to-date rally has room to grow with the precious metal poised to hit $2,300 an ounce by year-end, according to Goldman Sachs analysts.

On Monday futures gained to trade as high as $2,182 an ounce. The precious metal is considered a safe haven during times of geopolitical tensions and when interest rates decrease. Last week, the Federal Reserve continued to signal that it would lower interest rates three times this year.

The Fed meeting “reinforced the market’s (and ours) expectations that three cuts are likely this year, lending renewed support to gold to test and surpass March’s earlier record high,” wrote a team of analysts led by Samantha Dart.

Goldman Sachs analysts upgraded their average gold price forecast for 2024 from $2,090 to $2,180 per ounce, targeting a move to $2,300 by the end of the year.

The analysts forecast gold prices in the near term will move toward another consolidation phase, barring any geopolitical surprise. However, “a substantive retracement lower will likely also be limited by resilience in physical buying channels,” wrote Dart, citing Chinese imports of the precious metal.

“Nonetheless, in the midterm we continue to hold a constructive view on gold underpinned by eventual Fed easing, which should crucially reactivate the largely dormant ETF buying,” wrote Dart.

Bullion's price increases have been disconnected from recent outflows seen in gold-related ETFs. Strategists believe investors have been rotating money into bitcoin ETFs as the token roared toward new highs earlier this month.

Central banks have been buying up gold at historic levels, helping to drive up demand over the past couple of years.

Adjusted for inflation, gold hit a record in 1980 when it hit $850 per ounce, which would equal almost $3,200 in today's dollars.

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Arafura Rare Earths Limited - >>> Rare Earths Miner Wins A$840 Million in Funding From Australia


Bloomberg

by Paul-Alain Hunt

Mar 13, 2024


https://finance.yahoo.com/news/rare-earths-miner-wins-840-000920500.html


(Bloomberg) -- Arafura Rare Earths Ltd. will receive A$840 million ($556 million) in funding from the Australian government to create the nation’s first combined mine and refinery for minerals that are crucial to the clean-energy and defense industries.

The funding will come from the government’s A$6 billion Critical Minerals Facility, the Northern Australia Infrastructure Facility, and Export Finance Australia, Prime Minister Anthony Albanese said in a statement Thursday. Once built, the project in the Northern Territory could supply almost 4% of the world’s magnet rare earths supply, according to Arafura.

The deal comes as Australia works with allies including the US to expand its capacity in critical minerals production and processing in a bid to break China’s near monopoly in the sector. It follows Wednesday’s announcement of government funding of A$550 million to lithium developer Liontown Resources Ltd., to ensure it reaches first production from its Kathleen Valley spodumene project in Western Australia.

“The road to net zero runs through Australia’s resources sector and the development of our critical minerals sector will play a key role,” Albanese said in the statement.

Arafura’s Nolans neodymium-praseodymium open cut mine and associated processing project is 135 kilometers (84 miles) north of Alice Springs and has an estimated mine life of around 40 years. The company’s biggest shareholder is Hancock Prospecting Ltd., controlled by Australia’s richest woman Gina Rinehart, with a 9.1% stake.

Trading in Arafura was halted in Sydney before the announcement. Since hitting a record high in February 2023, its shares have slumped 78%. They closed at 14.75 Australian cents apiece on Wednesday.

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>>> Arafura Rare Earths Limited (ARAFF) explores for and develops mineral properties in Australia. It focuses on the production of rare earth products, such as neodymium-praseodymium and mixed middle-heavy rare earths oxides. The company holds 100% interests in the Nolans project, a rare earths-phosphate-uranium-thorium deposit that supplies neodymium and praseodymium products; and the Aileron-Reynolds project comprising six granted exploration licences covering an area of approximately 1,240 kilometer square located in Northern Territory, Australia. It also engages in social and environmental studies and evaluations. The company was formerly known as Arafura Resources Limited and changed its name to Arafura Rare Earths Limited in October 2022. Arafura Rare Earths Limited was incorporated in 1997 and is based in Perth, Australia.

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>>> Neo Performance Materials Inc. (NOPMF) engages in the manufacture and sale of rare earth, magnetic powders, magnets, and rare metal-based functional materials in Canada and internationally. The company operates in three segments: Magnequench, Chemicals and Oxides, and Rare Metals.

The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets. Its powders are used in the production of bonded permanent magnets that are components in automotive motors, micro motors, traction motors, sensors, and other applications.

The Chemicals and Oxides segments manufactures and distributes a range of industrial materials for use in auto catalysts, consumer electronics, petroleum refining, hybrid and electric vehicles, and municipal and industrial wastewater treatment applications.

The Rare Metals segment sources, produces, reclaims, refines, and markets high-temperature metals that include tantalum, niobium, hafnium, and rhenium; and electronic metals, such as gallium and indium for jet engines, medical imaging, wireless technologies, and LED lightings, as well as flat panel displays, solar, steel additives, batteries, and electronic applications.

The company was founded in 1994 and is headquartered in Toronto, Canada.

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The Metals Company (TMC) - >>> Pentagon to Deliver Report on Domestic Processing of Seafloor Nodules by March 1 as President Biden Signs NDAA


GlobeNewswire

The Metals Company

January 3, 2024


https://finance.yahoo.com/news/pentagon-deliver-report-domestic-processing-133000108.html


Under the National Defense Authorization Act (FY24) now signed into law by President Biden, the House Armed Services Committee directs the Assistant Secretary of Defense for Industrial Base Policy to submit a report assessing the domestic processing of seafloor polymetallic nodules by March 1, 2024.

Last month, thirty-one Members of Congress wrote a letter to the Secretary of Defense and the Pentagon urging the Department of Defense to “explore every avenue to strengthen our rare earth and critical mineral supply chains”, emphasizing “the importance of evaluating and planning for seabed mining as a new vector of competition...”.

The news comes as American and allied auto and battery makers struggle to secure supplies of critical battery metals that comply with guidelines for incentives under the Inflation Reduction Act.


NEW YORK, Jan. 03, 2024 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of critical battery metals, today welcomed the passage of the 2024 National Defense Authorization Act (NDAA) into law and the inclusion of provisions directing the Department of Defense to submit a report to the House Armed Services Committee assessing the domestic processing of seafloor polymetallic nodules by March 1, 2024.

In the language attached to the newly approved Act, the Committee acknowledged the imperative of establishing a secure supply chain of critical and strategic minerals and materials and noted, “that to meet national security requirements the United States must have the ability to source critical minerals in innovative arenas to decrease reliance on sources from foreign adversaries.” As a potential new frontier for resource extraction, the Committee directs the Pentagon to produce a report which, among other things, outlines “a roadmap recommending how the United States can have the ability to source and/or process critical minerals in innovative arenas, such as deep-sea mining.”

Through the NDAA, the House Armed Services Committee has directed the Assistant Secretary of Defense for Industrial Base Policy to submit a report to the Committee by March 1, 2024 “assessing the processing of seabed resources of polymetallic nodules domestically. The report shall include, at a minimum, the following: (1) a review of current resources and controlling parties in securing seabed resources of polymetallic nodules; (2) an assessment of current domestic deep-sea mining and material processing capabilities; and (3) a roadmap recommending how the United States can have the ability to source and/or process critical minerals in innovative arenas, such as deep-sea mining, to decrease reliance on sources from foreign adversaries and bolster domestic competencies.”

In November 2023, a bipartisan coalition led by Senator Lisa Murkowski (R-AK) re-introduced a resolution calling on the U.S. Senate to ratify the UN Convention on the Law of the Sea (UNCLOS), arguing that “the longer we sit out, the longer the rest of the world will continue to set the agenda of maritime domain, from seabed mining to critical subsea infrastructure.” That same month, five Members of the US House of Representatives from Texas urged the Department of Defense to support the use of federal resources under the NDAA towards TMC’s feasibility study for nodule processing along the Texas Gulf Coast. In a letter to the Assistant Secretary of Defense for Industrial Base Policy, Laura D. Taylor-Kale, the Members wrote: “The applicant seems to have the ability to produce battery-grade materials at commercial facilities in North America at pilot scale. The scope of the submission focuses solely on U.S. processing and appears to offer the Department of Defense the opportunity to re-shore critical mineral supply lines.”

Over recent years, TMC has welcomed letters from congressional leaders including the House Armed Services Committee as well as former military leaders urging the Biden Administration to assess domestic processing of seafloor polymetallic nodules as a means to secure key energy transition metals and “close national security vulnerabilities.” In March last year, TMC Chairman and CEO Gerard Barron wrote to the Senate Energy and Natural Resources Committee, noting, “Support from the U.S. Government for the development of the polymetallic nodule resource and TMC’s first project, NORI-D, would unlock access to the resource without overcoming legislative hurdles to ratify the United Nations Convention on the Law of the Sea.”

About The Metals Company

The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the global energy transition with the least possible negative impacts on planet and people and (2) trace, recover and recycle the metals we supply to help create a metals commons that can be used in perpetuity. The Company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.

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>>> TMC the metals company Inc. (TMC) , a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in the Clarion Clipperton Zone (CCZ) in the south-west of San Diego, California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in three polymetallic nodule contract areas in the CCZ of the Pacific Ocean. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, clean energy transmission, manganese alloy production required for steel production, and other applications. The company was formerly known as Sustainable Opportunities Acquisition Corporation and changed its name to TMC the metals company Inc. TMC the metals company Inc. was incorporated in 2019 and is based in Vancouver, Canada.

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Re-post - >>> Yes....but as I mentioned in my post you responded to, it may be years or a decade before any mining takes place. Unless there are changes in the way permits are vetted and approved, an eye watering deposit of minerals is only a teaser. You can look around the USA and find many examples of very promising mineral deposits that companies are in the process of developing that are many years in without a $1 to show for their effort. I look at producing miners and fully permitted soon to be producing for opportunities.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173872189

If you are interested in miners you might take a look at TMC. The defense department is due to release a study on deep sea mineral mining on March 1st outlining:

thirty-one Members of Congress wrote a letter to the Secretary of Defense and the Pentagon urging the Department of Defense to “explore every avenue to strengthen our rare earth and critical mineral supply chains”, emphasizing “the importance of evaluating and planning for seabed mining as a new vector of competition...”.


TMC has said they intend to begin mining operations in 2025. https://investors.metals.co/news-releases/news-release-details/tmc-announces-corporate-update-expected-timeline-application/

There are still some potential pitfalls, but there is also the possibility that they will legally be able to mine. Speculative, yes, but at least they are at the end of the permitting process and if the defense department backs them it can only add additional pressure on the process to proceed.

I currently have no position but may take one. I look at the company as well positioned if they are allowed to mine their claim, but that is still a big, "but". They will also have to raise cash to begin operations, so share dilution is probably in their future....something to consider.

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>>> American Rare Earths Limited engages in the exploration and development of mineral resources in Australia and the United States. The company explores for rare earth, scandium, and cobalt deposits. Its 100% owned flagship property is the Halleck Creek project situated in Wyoming, the United States. The company was formerly known as Broken Hill Prospecting Limited and changed its name to American Rare Earths Limited in July 2020. American Rare Earths Limited was incorporated in 1986 and is based in Sydney, Australia.

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>>> Billions of Rare and Valuable Materials Discovered in Wisconsin Could Make U.S. the Leading Producer of Rare Earth Materials


Savvy Dime

2-15-24


https://www.msn.com/en-us/money/markets/billions-of-rare-and-valuable-materials-discovered-in-wisconsin-could-make-u-s-the-leading-producer-of-rare-earth-materials/ss-BB1ikBmA?ocid=BingHp01&cvid=3e32749d12754a5f91b8eec6fd7f5159&ei=32#image=1


In an exciting development, the United States might be on its way to exceeding global leader China as the top extractor of rare minerals. A recent discovery of a huge cache of minerals has the potential to upset the world economy in a big way.

Rare earth minerals are essential to daily life in the modern world, making devices like computers, smartphones, and hybrid cars possible.

What Was Discovered?

A company called American Rare Earths Inc. recently announced the discovery of a huge cache of rare minerals that is estimated to be more than 2.57 billion tons.

The discovery is reported to be in an area in Wyoming where the company has holdings of over 6,320 acres of land and 367 mining claims.

What Are Rare Earth Minerals?

"Rare earth mineral" is the name for 17 metallic elements on the periodic table. Their name doesn’t come from the fact that they are scarce, but from the history of how difficult they were to find.

Although they are abundant on the earth, they are spread so thin that people need to process tons of ore just to find traces of them.

Why Are These Minerals So Sought After?

Rare earth minerals have unique properties that give them specific applications for developing technology and medical use. The minerals tend to have conductive and magnetic properties that can enhance other elements when combined in a mixture or alloy.

Some are also essential for many forms of energy generation like nuclear, solar, wind, and oil refining. The International Energy Agency speculates that the demand for these minerals is expected to increase between three and seven times by 2040.

China’s Industry Dominance

The nation of China accounts for nearly 95 percent of the earth’s rare mineral processing, and the United States currently imports more than 74 percent of its own supply of essential minerals from it. China also produces nearly 60 percent of the world's supply of these minerals.

In the past, China has used this position to threaten to withhold exports as a political tool against the United States and other countries.

China’s Ban on Rare Earth Processing Technology

In December of 2023, China surprised the world by announcing a ban on rare earth extraction technology. (via Reuters) It is thought that the motivation for this move is to cripple the United States since they would have to start building up their own technology to process the minerals they previously relied on China for.

The move came on the heels of news that China’s economy is struggling under the weight of recent world events like the pandemic.

The Race Is On

While China intended its latest efforts to control prices and secure its position in the world, a backfire may be possible. China’s ban will definitely hurt countries in the short term. However, as these countries build their own technologies in the coming years, they will invariably break China’s dominance over the industry.

Now, just two months later, the United States has discovered its own supply of rare earth minerals that will boost its ability to compete.

Previous Drilling by American Rare Earths

This is not the first time that American Rare Earths has found caches of rare earth minerals, but it is certainly the largest by far. Their first drilling attempt in 2023 found 1.32 million tons.

The second drilling attempt found 64 percent more minerals, which surprised the CEO of the company. The increased discovery of metals in the subsequent drilling is a good sign that there is huge potential for the mining site.

Just Scratching the Surface

Don Schwartz, CEO of American Rare Earths, issued a statement on the findings, excited about the future prospects of the company’s project.

‘Typically, you’ll see the resource decrease as infill drilling takes place – instead, we’re seeing the opposite, with only 25 percent of the project being drilled to this point,” he said.

Which Rare Earth Minerals Were Discovered?

Several rare earth minerals were discovered at the mining site in Wheatland, Wyoming. These included minerals like samarium, dysprosium, terbium, praseodymium, and neodymium.

The discovery of neodymium is of particular interest for its application in magnets used in smartphones and computer drives. However, all of the minerals discovered have important applications for industrial and commercial products.

Open Mining Will Likely Be Used

The extraction method that American Rare Earths will use is reportedly open pit mining.

This type of extraction is criticized for its negative environmental impact but is common throughout the world for this type of work. It is also the fastest method for getting these minerals, which allows a company to work at a rate of 20,000 tons of rare earth minerals per day.

Is There a Reason for China to be Worried?

If American Rare Earths continues to discover more rare earth minerals, China may have to reconsider its export strategy. While China has the edge in processing technology at the moment, more companies around the world are making strides to overcome their independence and chip away at their global dominance.

The United States, as well as Australia and Canada, are already several years into a plan to scale up their processing and refining efforts.

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Battery metals glut - >>> Base Metals Up, Gold Edged Higher, Battery Metals Glut


iHub News

January 23 2024


https://ih.advfn.com/market-news/article/5435/base-metals-up-gold-edged-higher-battery-metals-glut


Base metals prices rose on improved sentiment following the Bloomberg report that Chinese authorities are considering a package of measures to stabilize the stock market.

Top metals consumer China “will remain key in driving the general trend of the whole complex, most likely resulting in rangebound moves,” Sucden Financial said.

Meanwhile, gold edged higher as the dollar softened while investors awaited economic data and central bank decisions.

Battery Metals

Wood Mackenzie forecast a glut of lithium, cobalt, nickel and graphite to continue for several years.

It said automakers are likely sitting on large stockpiles of battery cells for EV sales that failed to materialize.

Citing the China Automotive Battery Innovation Alliance, Wood Mackenzie said only 387 GWh of the 747 GWh of power batteries produced in China in 2023 were installed into products.

“With storing batteries being an expensive business, automakers may have a more cautious appetite for purchasing cells in 2024.”

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>>> Federal helium reserve sale may disrupt supplies for MRIs, computer chips


UPI

by Doug Cunningham

January 26, 2024


https://www.yahoo.com/news/u-just-sold-helium-stockpile-000321805.html


The Thursday sale of the massive federal helium reserve could worsen an existing supply shortage. Helium is essential to keep hospital MRI machines running and to manufacture computer semiconductor chips.


Jan. 26 (UPI) -- The sale of the Federal Helium Reserve to the highest private bidder Thursday could have a huge impact on healthcare and disrupt hospital supply chains and even semiconductor chip manufacturing.

The winning bidder of the auction Thursday hasn't been publicly identified.

A major concern in the health industry is MRI machines that need helium to function, threatening not just hospital supply chains but individual healthcare for patients who need MRIs.

It's also an essential ingredient in semiconductor chip manufacturing, so the sale of the reserve would impact anyone using those chips.

Soumi Saha, a senior vice-president of Premier Inc. said an existing helium supply shortage may get worse as regulatory and logistical issues could cause a temporary shutdown of the existing federal supply while it transitions to private ownership.

"We are stressing about this shortage. From a health care perspective, MRI machines are the No. 1 concern," Saha said.

Premier Inc. contracts with helium suppliers to supply hospitals.

The massive federal stockpile of helium spans three states and about 6 billion cubic feet of helium is held underground in the Bush Dome.

A 1996 law -- the Helium Privatization Act of 1996 -- forced the sale of nearly all the 30 billion cubic feet of helium held in the Bush Dome and pegged the cost not at market rates, but at the annual inflation rate.

Private companies bought it and resold it at higher prices. The auction this week puts the remainder in private hands.

Bo Sears, author of Helium: The Disappearing Element, told Texas Monthly, "It is this formula of pricing that has caused all of the shortages that we see today."

Since just a few countries produce helium, the element is in relatively short supply.

The sale of the federal helium reserve prompted Scott Whitaker, president and CEO of AdvaMed, the Medtech Association, to urge the White House to delay the final sale and privatization of the helium reserve.

"Helium is critical to the function and operation of key medical technologies patients rely on for their care," Whitaker said in a statement.

"For example, it's used to cool the magnet in magnetic resonance imaging machines. American patients receive an estimated 40 million MRI scans each year to help diagnose strokes, tumors, brain injury, spinal cord injury and heart problems."

Advamed joined the Semiconductor Industry Association, Compressed Gas Association, the Aerospace Industries Association and the Medical Imaging and Technology Alliance to warn the federal government in October that selling the helium reserve carried a significant risk.

"The FHR sale as the General Services Administration has proposed it poses significant risks of disruption to the United States helium supply chain," they wrote in a joint letter.

"We urge the White House to intervene and delay transfer of the FHR until the transfer of the facility can be done in a manner that maintains the safety of the facility and the reliability of the helium supply chain."

While the winner of the auction hasn't been announced, Messer, a company that helps manage the Cliffside plant on the reserve, could be the highest bidder.

According to Compressed Gas Association CEO Rich Gottwald, several issues related to logistics and regulation in Texas, Oklahoma and Kansas as the helium reserve goes private could force a shutdown of the facility for as long as three years.

One of those issues is enrichment of the helium. The new owner of the helium reserve would have to lease enrichment facilities from other private companies that own the enrichment system.

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>>> Arcadium Lithium Announces Completion of Merger of Equals between Allkem and Livent


Arcadium Lithium PLC

04 Jan, 2024


https://www.prnewswire.com/news-releases/arcadium-lithium-announces-completion-of-merger-of-equals-between-allkem-and-livent-302026354.html


Combination Creates a Leading Global Integrated Lithium Chemicals Producer

Key Strengths

Leading global lithium chemicals producer with the resources, scale and expertise to meet growing customer and industry needs - reliably, safely and responsibly.

Premier lithium resources and manufacturing sites in key locations globally across the lithium value chain.

Highly complementary assets and vertically integrated business model focused on enhancing operational flexibility and predictability while lowering costs.

Ability to de-risk and accelerate growth with a world-class pipeline of development projects, proven execution capabilities and technical, capital and projects expertise.

Leading sustainability profile, with an unwavering commitment to continuous improvement, decarbonization and delivering greater value to customers, employees, communities and shareholders.


PHILADELPHIA and BRISBANE, Australia, Jan. 4, 2024 /PRNewswire/ -- Arcadium Lithium plc (NYSE: ALTM, ASX: LTM, "Arcadium Lithium") today announced the completion of the all-stock merger of equals between Allkem and Livent. The new, combined company is a leading global lithium chemicals producer committed to safely and responsibly harnessing the power of lithium to improve people's lives and accelerate the transition to a clean energy future. With roughly U.S. $1.9 billion of combined total revenue in 2022 and a global team of more than 2,600 employees, Arcadium Lithium is one of the largest integrated producers of lithium chemicals in the world.

Paul Graves, Chief Executive Officer of Arcadium Lithium, said: "As one of the leading global producers of lithium chemicals, Arcadium Lithium has the resources, scale and expertise to meet the growing needs of our rapidly changing industry. We are a leader in every major lithium extraction process – from hard rock mining to conventional pond and DLE-based brine processing – and vertically integrated, from resource to chemical manufacturing, in strategic locations around the world. This will open doors to new opportunities and strengthen our ability to deliver value to our customers, investors, employees and communities."

Mr. Graves continued: "It is a privilege for me to lead this great company forward with such an incredible team. This transformational merger would not have been possible without the hard work and commitment of our integration planning teams over the past months. I want to thank them and all of our employees around the world for getting us to this position. Together, we are launching an exciting new company that combines the strengths and storied legacies of two incredible organizations, both with an wavering commitment to safe, responsible and sustainable operations. We look forward to building on this strong foundation and leading our industry forward."

Arcadium Lithium ordinary shares will begin trading today on the NYSE under the ticker "ALTM." Arcadium Lithium also maintains a foreign exempt listing on the ASX (via the issue of CHESS Depositary Instruments (CDIs) to Allkem shareholders) and will commence trading on a normal settlement basis on the ASX under the ticker "LTM" at 10:00am (AEDT) on January 5, 2024. Allkem shareholders received either: (a) one Arcadium Lithium ASX listed CDI; or (b) one Arcadium Lithium NYSE listed share depending where they resided and what election (if any) they had made for each Allkem ordinary share held, except for shareholders in certain ineligible jurisdictions, who will receive cash proceeds from the sale of the Arcadium Lithium CDIs in lieu of such CDIs after closing. Livent shareholders received 2.406 Arcadium Lithium NYSE listed ordinary shares for each Livent share held.

Arcadium Lithium will have approximately 1,074 million ordinary shares outstanding upon closing.

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Re-post - >>> I spent the first half of 2023 selling most of my individual holdings with the expectation of a substantial correction; obviously wrong. After the recent run I don't have much conviction for individual issues, I'm happy to collect interest payment and wait. I do like some miners, lithium and copper, but the recent bump in price combined with the negative opinions of near term potential keep me watching. I do still have a stake in Pilbara Minerals bought in late 2020 and early 2021. I like PKX, ALB, PILBF, FCX and SCCO, but not until they drop back below their recent lows. I do like semiconductors, but not at these elevated prices. It's a harder space for me to pick winners so I prefer using SMH. Again, there would need to be a substantial correction to make them attractive. As I age I become more willing to wait, watch and collect interest payments.

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>>> Exxon to start lithium production for EVs in the U.S. by 2027


Reuters

11-13-23

By Sabrina Valle



https://www.msn.com/en-us/money/topstories/exxon-to-start-lithium-production-for-evs-in-the-u-s-by-2027/ar-AA1jQQMr?OCID=ansmsnnews11



HOUSTON (Reuters) -Exxon Mobil on Monday said it plans to start producing lithium from subsurface wells by 2027 to provide supplies of the key metal used in electric-car batteries and advanced electronics.

Oil majors are investing in the electrification sector as governments in the United States and Europe set programs to promote wider use of electric vehicles and reduce fossil-fuel consumption.

Exxon said it will start production from briny waters pumped out of the ground in an area in the state of Arkansas known to hold significant lithium deposits to help develop a domestic source of the metal.

"In the long term, lithium really is a global opportunity," said Dan Ammann, president of Exxon's Low Carbon business unit. "We are starting here because there is an urgent need to ramp up domestic production of these critical materials."

The largest U.S. oil company said it would use conventional oil and gas drilling methods to access lithium-rich saltwater from reservoirs about 10,000 feet underground and then use direct lithium extraction (DLE) technology to separate lithium from the saltwater.

Ammann did not disclose how much Exxon intends to invest in the lithium business, or when it might become profitable.

The company's majority-owned Canadian affiliate, Imperial Oil, also has invested in a lithium-extraction pilot project in Alberta, Canada.

Exxon plans to begin production with partner Tetra Technologies, Reuters exclusively reported on Saturday. It will produce the metal onsite and sell it under the brand name Mobil Lithium, the company said on Monday.

Exxon had acquired the rights to 120,000 gross acres of the Smackover formation in Arkansas earlier this year.

European oil rivals BP and Shell have invested in electric vehicle charging stations as part of their energy transition strategy. A Deloitte study released earlier this year showed investors would like to see more spending on such technologies.

Exxon, which invented the rechargeable lithium-ion battery in the 1970s, but stepped away from the technology, has no plans to invest in charging stations, the executive said.

Exxon is focusing on lithium production to be used not only in EVs but also consumer electronics and energy storage systems that can hold electricity generated from intermittent solar and wind power.

There are about 280 million vehicles in the United States today, and less than 3 million are EVs, or about 1% of the total, Ammann said.

"There is still 99% to go, which suggests it is a very, very big opportunity," he said.

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>>> Rare-earths miner Lynas jumps as Malaysia allows key plant extension


Reuters

October 24, 2023

By Rishav Chatterjee


https://finance.yahoo.com/news/rare-earths-miner-lynas-jumps-030907425.html


(Reuters) - Shares of Lynas Rare Earths hit their highest in over a month on Wednesday, extending gains, after Malaysia allowed the miner to operate its flagship refinery locally with a variation to the operating licence.

Shares jumped as much as 5.6% to A$7.2 as of 0229 GMT, hitting highest since Sept. 19 and putting the company on track to sit among the top 10 gainers in the ASX 200 benchmark index.

The government of Malaysia said on Tuesday it will allow Lynas Malaysia, which has been operating in central Pahang state since 2012, to import raw materials containing natural radioactive material and process rare earths until March 2026 after a long-running regulatory battle.

The license extension comes despite concerns raised in recent years by Malaysia regarding radiation levels from the cracking and leaching operations during raw material processing.

Science and technology minister Chang Lih Kang said Lynas will be allowed to import radioactive material and continue processing rare earths, provided the firm carries out thorium extraction to remove radioactive waste.

"Lynas has de-bottlenecked its cracking and leaching following the license update", while eyeing multiple opportunities to further improve production, analysts at Macquarie said.

The brokerage also lifted its price target on the biggest rare earths miner outside of China by 3% to A$7.70 and upgraded the earnings outlook for a near-term period.

Lynas' Malaysia refinery, its first outside China, has been embroiled in a radiation dispute at the plant with Lynas challenging an earlier ruling that would have halted operations.

In a statement on Tuesday, Lynas said the change to its license will allow its Malaysian facility to continue to import and process lanthanide concentrate from its mine in Western Australia.

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>>> Xi’s Metal Curbs Risk Backfiring as G-7 Seeks China Alternative


Bloomberg News

July 4, 2023


https://finance.yahoo.com/news/xi-metal-curbs-risk-backfiring-043801904.html


(Bloomberg) — China’s decision to control the export of two key metals showed it has some power to retaliate against moves by the US, Japan and Europe to cut Beijing off from advanced technology. But it also risks backfiring.

The new export licensing system unveiled late Monday highlighted China’s dominant position in global production of gallium and germanium, which are used to make chips, electric cars and telecommunications equipment. The announcement — just days before US Treasury Secretary Janet Yellen visits Beijing — appears timed to give China leverage as it pushes the White House to remove export controls that risk hobbling the nation’s development.

Yet the measure is a double-edged sword, and may simply accelerate efforts by those countries to reduce dependence on the world’s second-biggest economy. If Beijing did at some point uses these new rules to restrict shipments and cut supply to other nations, prices would likely rise and make it more economical to boost output in Japan, Canada, the US or elsewhere.

“It’s part of the tit-for-tat the PRC is playing with the US and its allies,” said Ja Ian Chong, an associate professor of political science at the National University of Singapore. He was referring to the country’s formal name, the People’s Republic of China. “There may be some initial shock to the markets and firms but over time, should these restrictions persist, markets and firms adjust.”

The move underscores the dilemma facing President Xi Jinping as he seeks to counter US efforts to prevent China from accessing the chips needed to dominate technology like artificial intelligence and quantum computing. Any reciprocal actions only give the US and Europe more ammunition to push for derisking, something Xi’s government has sought to counter.

“China always takes a tit-for-tat approach,” Roy Lee, Taiwan’s deputy foreign minister, said of the new measures, which he called a retaliation to export controls by the US and other democratic nations. These “will become an accelerator for countries including Taiwan, South Korea and Japan to reduce our dependence on China supply of those critical minerals and materials.”

Rare Earth Weapon

China’s previous efforts to restrict the sale of rare earths have only diminished its market share as other countries work to secure supplies of the metals that aren’t controlled by China.

China first introduced an export licensing system for rare earths in the 1990s while also gradually ramping up taxes, squeezing companies in Japan and elsewhere that relied on Chinese supplies. But the big shift happened in 2010, when Beijing temporarily halted exports to Japan in reaction to a collision between a Chinese fishing boat and the Japanese coast guard near islands claimed by both countries.

That incident set off a race to find alternative supplies from China. Output in Australia and the US subsequently increased, pushing China’s share of mining output down to 70% of global supply in 2022 from a peak of 98% in 2010, according to the US Geological Survey.

China currently accounts for about 94% of the world’s gallium production, according to the UK Critical Minerals Intelligence Centre. Still, the metals aren’t particularly rare or difficult to find, though China’s kept them cheap and they can be relatively high-cost to extract.

“Imposing export restrictions risks reducing market dominance,” researchers from Eurasia Group including Anna Ashton wrote in a note. “If implemented as is, China’s new export mineral restrictions could offer fresh impetus for foreign manufacturers to shift production out of China, accelerating the trend of supply chain diversification.”

China said the new licensing system for exports of gallium and germanium, along with their chemical compounds, was aimed at protecting national security — the same justification given by the US and it allies for their export controls.

The announcement nevertheless sparked concern in Europe about potential disruption to supply chains in the short term and is likely to spur discussion about how to reduce the bloc’s reliance on China.

The European Union announced a new economic security strategy last month and launched a Critical Raw Materials Act to ease financing and permitting for new mining and refining projects, and also to strike trade alliances to reduce the bloc’s dependence on Chinese suppliers. If the new rules were used to restrict exports, that escalation of tensions could threaten the bloc’s ability to transform its economy to become more environmentally friendly.

The immediate effect of the changes seems to be limited, according to a statement from the Korean industry ministry on Tuesday, which noted that there are other supplies of the two metals.

However even if China doesn’t use this new rule to limit exports at some point in the future, it arguably has more to lose than the US, particularly as its mounting economic challenges raise questions about whether it will ever take over as the world’s biggest economy.

Beijing’s most effective tool to sanction others is to cut off access to its huge market, or limit exports of strategically important goods. But this further drives the decoupling from China that Beijing wants to avoid, as it would undermine its stated goals of ensuring the nation is dominant in new technologies and essential in global supply chains.

At the moment, however, the growing ideological struggle between the US and China is taking precedence over globalization, Morris Chang, the founder of chip giant Taiwan Semiconductor Manufacturing Co., said at an industry event in Taipei on Tuesday.

“Right now national security and technology and economic leadership take priority over globalization,” he said. “The relations between US and China are more about competition than collaboration.”

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>>> Undersupply of magnet rare earths to hit 60,000 tonnes by 2030


Mining.com

May 5, 2023


https://www.mining.com/supply-of-rare-earth-magnets-wont-keep-with-demand-by-2040-report/


A recent report by Adamas Intelligence predicts that from 2023 through 2040 global demand for NdFeB magnets will increase at a compound annual growth rate of 7.5%, bolstered by double-digit growth from electric vehicle and wind power sectors.

According to the report, such growth will translate to a comparable demand increase for the critical rare earth elements – didymium, dysprosium and terbium – the magnets contain.

The forecast takes into account trends and events observed in recent years. Following a latent demand pop in 2021 that saw the materialization of some pent-up demand from the year prior, Adamas Intelligence data indicate that global consumption of NdFeB magnets increased 1.9% year-over-year in 2022, suppressed by global economic headwinds and regional pandemic-related challenges.

Looking at production, the Canadian firm’s forecast sees didymium, dysprosium and terbium (the so-called magnet rare earths) collectively increasing from 2023 through 2040 at a compound annual growth rate of 5.2% as the supply side of the market increasingly struggles to keep up with rapidly growing demand.

By 2040, Adamas also expects an annual NdFeB undersupply of 246,000 tonnes.

“Constrained by increasingly tight availability of magnet rare earth feedstocks, we forecast that global undersupply of NdFeB alloy and powder will amount to 60,000 tonnes annually by 2030 and 246,000 tonnes annually by 2040 – an amount almost equal to last year’s total global NdFeB alloy and powder production,” the report reads.

NdPr oxide is also predicted to be undersupplied by 90,000 tonnes by 2040 due to a lack of new primary and secondary supply sources from 2023 onward.

“We forecast that global undersupply of didymium oxide (or oxide equivalent) will rise to 19,000 tonnes-per-annum by 2030 and 90,000 tonnes-per-annum by 2040 – an amount roughly equal to last year’s total global primary plus secondary production,” Adamas points out.

Dysprosium and terbium oxides (or oxide equivalents) seem to follow a similar pattern given the lack of new primary and secondary supply sources from 2023 onward. Adamas expects an annual undersupply of 1,800 tonnes and 450 tonnes, respectively, by 2040.

Overall, the market for magnet rare earth oxides is set to increase five-fold by 2040, with total magnet rare earth oxide consumption forecasted to increase at a CAGR of 5.2% versus a higher 7% for demand, while prices are projected to grow at CAGRs of 3.3% to 5.2% over the same period.

“Adamas Intelligence forecasts that the value of global magnet rare earth oxide consumption will increase five-fold by 2040, from an estimated us $10.8 billion this year to us $56.7 billion by 2040,” the document reads.

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>>> Lithium’s Next Big Risk is Grand Supply Plans Falling Short


Bloomberg

by Annie Lee and Mark Burton

January 15, 2023


https://finance.yahoo.com/news/lithium-next-big-risk-grand-220000291.html


(Bloomberg) -- Electric-vehicle producers are hoping that an imminent wave of lithium supply will bring relief for their expansion plans after a two-year squeeze, but the battery metal’s die-hard bulls warn of more pain if producers fall short.

Rampant lithium demand has caught many forecasters by surprise, with booming global EV sales causing consumption to double over the past two years. With suppliers unable to keep pace, a blistering price rally sent the total spot value of lithium consumption rocketing to about $35 billion in 2022, up from $3 billion in 2020, according to Bloomberg calculations.

Some bearish lithium-watchers say fast-growing supply, rather than dizzying demand, will be the decisive factor in 2023. Five analyst forecasts reviewed by Bloomberg point to much more balanced global market after clear shortages in 2022, while BYD Co., China’s top EV seller, is counting on a lithium surplus.

But there are many skeptics from who warn of fresh tightness if miners from Chile to China and Australia hit hurdles in launching daunting volumes of new supply. The reviewed forecasts peg production increases of between 22% and 42% in 2023: a breakneck pace for any complex extractive industry.

“I really don’t think there’s any reason to believe that so many tons can magically appear this year to return the market to balance,” Claire Blanchelande, a lithium trader at Trafigura Group, said by phone from Geneva. “The pain is not over yet.”

At stake is the pace at which the world’s vehicle fleet adopts battery power. Lithium-ion battery costs rose last year for the first time in the EV era, according to BloombergNEF. Elon Musk bemoaned lithium’s “insane” rally and said high raw material costs were among Tesla Inc.’s biggest headwinds.

Not Matched

There’s broad agreement that lithium supply is heading for a major increase in 2023 as a wave of expansions or new projects get up and running. The more bearish voices say that supply wave will hit the market just as China’s withdrawal of generous EV subsidies causes demand to cool, creating a mismatch that could trigger a sharper fall in prices.

Average prices this year are likely to fall about 8% from average 2022 levels, according to the mean of five forecasts reviewed by Bloomberg.

The divisive issue is whether less-established producers will be able to deliver in full, defying a range of regulatory, technical and commercial challenges. The extraordinary pace of lithium’s expansions - across both demand and supply - has made forecasting the market a contentious pursuit.

“2023 is when lithium becomes what I call a volume game,” said Chris Berry, president of House Mountain Partners, a consultant to the battery-materials sector. “We need to see a supply response from both existing producers and near-term producers who will need to execute flawlessly in the face of sustained lithium demand.”

Softer Market

Lithium prices have already come down about 20% from an eye-popping record in November, in an early sign of respite for buyers. Lithium carbonate in China fell to 480,500 yuan a ton ($71,500) on Jan. 13, the lowest since August.

A cause for optimism on supply is that the largest increases will be coming from veteran top producers like Albemarle Corp. and Chile’s SQM that are considered more likely to succeed. But they only account for about a third of anticipated increases, according to data from BMO Capital Markets.

The next tier down is a small army of nascent lithium producers who will need to prove they can get up and running. And beyond those, there’s unconventional new sources like lepidolite — a lithium-bearing mineral that’s emerging in China as a serious option. JPMorgan Chase & Co. called it “one of the largest threats” to prices.

But it’s also a controversial topic, with some specialists saying it’s costly and environmentally harmful to convert in large volumes for battery use.

“We will see more lepidolite be brought online in China in 2023,” Cameron Perks, analyst at Benchmark Mineral Intelligence said. “But we won’t see as much as being predicted by others. Give it five or 10 years, and it will increasingly become an important part of the market.”

All of this means the path to supply and cost relief for carmakers is fraught, even before considering the demand side of the ledger.

No Collapse

For now, China’s withdrawal of EV credits, as well as uncertainties over the pandemic and global economy, are weighing on the outlook. But a faster-than-expected reopening of China’s economy, and the rest of the world escaping a deep slump, could yet deliver an upside surprise.

“The market consensus and the consensus that I would agree with is that in 2023 pricing is likely to plateau, with perhaps some potential for downside but by no means do I see any sort of a pricing collapse,” said Berry of House Mountain Partners.

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>> Nevada lithium mine gets conditional $700M government loan


By SCOTT SONNER

Associated Press


https://www.msn.com/en-us/news/us/nevada-lithium-mine-gets-conditional-700m-government-loan/ar-AA16jHdS?OCID=ansmsnnews11


RENO, Nev. (AP) — The U.S. Department of Energy announced a conditional loan of $700 million Friday to an Australian mining company to pursue a lithium project still facing environmental hurdles in Nevada as the U.S. seeks domestic supplies for a key component in electric vehicle batteries.

The move ups the ante in what's already a high-stakes battle over President Joe Biden's energy agenda and conservationists fighting to protect an endangered wildflower found only at the proposed mine site on a high desert ridge halfway between Reno and Las Vegas.

Ioneer Ltd. has hoped to begin mining at Rhyolite Ridge by 2026 in Esmerelda County. The Energy announcement said the site could produce enough lithium to support production of about 370,000 electric vehicles annually for decades.

The loan would be the latest project to demonstrate the Biden administration's commitment to strengthen the nation's battery supply chain, electrify the transportation sector and cut reliance on fossil fuels and foreign supplies of raw materials, the Department of Energy said.

Jigar Shah, director of DOE's Loans Programs Office, said his office is “excited to further develop an environmentally responsible U.S. supply chain for critical materials.”

“Rhyolite Ridge is a major step towards bolstering domestic lithium production for clean energy technologies,” he said.

James Calaway, executive chairman of Ioneer, said the conditional commitment “highlights the project's strategic role in strengthening the nation's critical mineral supply chain in providing a secure, sustainable and reliable domestic source of lithium for the growing vehicle ecosystem.” Bernard Rowe, Ioneer's managing director, said it came after 23 months “of discussion and due diligence” by Energy and “represents a significant milestone” for the project.

But the project still faces a significant legal and regulatory challenge in developing a mining operations plan that will provide adequate protection for the endangered Nevada wildflower, Tiehm's buckwheat. (lol)

The U.S. Fish and Wildlife Service said in declaring it endangered last year that it is on the brink of extinction and the mining project posed the single biggest threat to its survival.

Conservationists have sued in the past to protect the 6-inch-tall plant with yellow blooms and vowed on Friday to do so again if necessary.

“What this looks like is a fairly transparent effort by the Biden administration to build political and economic momentum for the project in an effort to steamroll the U.S. Fish and Wildlife Service and the Endangered Species Act,” said Patrick Donnelly, Great Basin director for the Center for Biological Diversity.

“Ioneer is going to have to completely overhaul the design of this mine if they expect to pass through permitting,” he said in an email to The Associated Press. “We’ve sued or initiated lawsuits over Tiehm’s buckwheat four times already, and we won’t back down until every buckwheat is saved." (lol)

The Energy Department announcement said the Ioneer project is working to minimize impact on the plant. It said the loan is contingent on completion of an environmental impact statement in accordance with the National Environmental Policy Act (NEPA).

The Biden administration has made a plan for half a million charging stations for electric vehicles a signature piece of its infrastructure goals. That effort, and the growth of electric vehicle companies such as Tesla, will require much more lithium to make batteries.

Although lithium reserves are distributed widely across the globe, the U.S. is home to just one active lithium mine, in Nevada. Worldwide demand for lithium was about 350,000 tons (317,517 metric tons) in 2020, but industry estimates project demand will be up to six times greater by 2030.

Shah said large projects like this go forward step by step.

"We clearly are not committing any capital to the project yet," Shah said Friday in a telephone interview with AP. “They still have to meet the conditions. But by doing this, it gives their equity investors some comfort that they should continue to invest in the project.”

Sen. Jacky Rosen, D-Nev., is among those backing the project.

“I applaud the Energy Department for providing this loan to help support the mining and processing of Nevada’s critical minerals, help reduce greenhouse gas emissions, and contribute to the creation of jobs in our state," she said in a statement.

Lithium is fundamental to the battery technology that is most common in electric vehicles and battery electric storage systems. But many engineers are working on alternative battery chemistries because lithium involves rock mining, which means major disturbance to the environment.

Ioneer is a lithium focused company based in New South Wales, Australia and Reno.

Another new lithium mining project in development in the U.S. is proposed for Thacker Pass by Lithium Americas near the Oregon line. That northern Nevada mine would make millions of tons of lithium available, but it too faces legal challenges. Native American tribes have argued that it’s located on sacred lands near where dozens of their ancestors were massacred in 1865.

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MP Materials - >>> Did Apple Just Spell Doom for This Rare-Earth Elements Stock?


Motley Fool

By Nicholas Rossolillo

Nov 11, 2022


https://www.fool.com/investing/2022/11/10/did-apple-just-spell-doom-for-this-rare-earth-elem/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article


KEY POINTS

Apple CEO Tim Cook talked about recycling rare-earth elements in Apple's most recent earnings call.
MP Materials is the only U.S.-based rare-earth elements producer of its kind and Cook's comments are worth taking note of.

At this point, MP is still enjoying strong growth as it ramps up its operations.

MP Materials stock could still be a wait-and-see play.
With rising demand for advanced computing hardware and renewable energy solutions, many investors have hope for the rare-earth elements (REEs) niche of the mining industry. These materials are prized for their high electric conductivity and magnetic properties, but they can be quite expensive to mine. Fortunately, just a trace amount of a REE like cerium, neodymium, lanthanum, or terbium can go a long way in the manufacture of all sorts of items from batteries to medical equipment.

More REEs will be needed in the decade ahead and some estimates point to this corner of the mining industry growing at a double-digit percentage in the next five years or so.

Most REE production takes place in China, so many investors looking for a U.S.-based company have landed on MP Materials (MP -1.50%) as a top way to invest in this space. It's the only publicly traded U.S.-based REE producer, and it's been a wild but profitable ride since MP became a publicly traded company a couple of years ago. But did Apple (AAPL 0.04%) just douse the party with cold water?

When Apple talks, people listen

Rare-earth elements are getting plenty of hype, and MP is benefiting. Not only is global demand headed up, but there's also political motivation for a U.S.-based producer to succeed to reduce dependence on China's REE market. Though shares have been hit fairly hard by the bear market of 2022, MP has still doubled in price since its 2020 IPO, clobbering the 5% return of the S&P 500 over that same span of time.

But not everyone wants to keep increasing use of newly mined REEs. During the company's Oct. 27 earnings call with analysts, Apple (AAPL 0.04%) CEO Tim Cook said:

Across our entire product lineup, we also continue to source more materials through recycling while taking less from the Earth. Every iPhone 14 is made with 100% recycled rare-earth elements in all magnets, including those used in MagSafe. And in a first for Apple Watch and iPad, we're using recycled gold in the plating of multiple printed circuit boards in our newest devices. While we're working to reduce the footprint of our hardware, we're making changes to our software to be more environmentally friendly with the soon-to-be released Clean Energy charging feature for iPhone.

While details of its recycled REE supply chain are scant, to say the least, a few tiny REE recycling businesses have appeared in the U.S. in recent years. One recycling technology developed by a segment of the U.S. Department of Energy has apparently been licensed by a small materials engineering company based in Iowa. Other government initiatives are underway to spur on REE recycling, too.

Investors in MP Materials will want to watch how things develop and how Apple influences the industry.

Is MP Materials sunk?

On one hand, maybe MP stock won't be a great investment after all if Apple leans into this. Apple is one of the largest tech hardware companies and it has quite the track record of finding novel ways to squeeze its material suppliers to maximize its own profit margins. Besides being able to tout its earth-friendly (or maybe "earth-friendlier") recycled products supply chain, no doubt Apple's switch to reused REEs comes with a long-term profit margin improvement target.

On the other hand, demand for rare-earth elements is rising quickly, and even some early estimates for REE recycling growth merely match the expected growth rate of overall demand. Mined or reprocessed, the world will need more of these elements for use in things like electric cars and energy grid storage (giant battery packs).

And though MP's growth has slowed as 2022 has dragged on, it isn't exactly hurting. Q3 2022 revenue increased 25% year over year to $124 million, and net income increased 48% to $63 million. The company currently derives its revenue from the sale of REE concentrate, but it's busy working on a material refining facility and a value-added magnetics operation as well. The company is also working on REE recycling efforts.

At this point, there isn't much indication that Apple's recycled iPhone components will dent demand for MP's production. But if you're an MP shareholder, it's worth keeping tabs on this development now that MP has the ball rolling on its mining operations. Shares of MP Materials now trade for 22 times trailing-12-month earnings, close to the cheapest valuation it's had since going public, so it's worth a look.

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>>> Researchers Find Possible Replacement for Rare Earth in Magnets

New way of making tetrataenite could help produce magnets

More work is needed to determine if method is suitable


By Bloomberg News

October 24, 2022


https://www.bloomberg.com/news/articles/2022-10-24/researchers-find-possible-replacement-for-rare-earth-in-magnets


Scientists may have discovered a method for making magnets used in wind turbines and electric cars without the rare-earth metals that are almost exclusively produced in China.

A team from the University of Cambridge and colleagues from Austria found a new way to make tetrataenite, a possible replacement for rare-earth magnets, according to a research paper from the university. If the manufacturing process is proven to be commercially feasible, it could loosen China’s dominance of the rare-earth market where it accounts for over 80% of global supply.

US President Joe Biden earlier this year backed efforts to boost output of the critical materials, while the European Union’s foreign service this month said the bloc should diversify supply chains, including for rare-earth metals, away from China. In 2019, the Asian nation warned it could cut exports to hit back in its trade war with Washington.

It could be possible to produce tetrataenite, an iron-nickel alloy, at scale by adding the common element phosphorous, the researchers found. Previously, making tetrataenite -- whose magnetic properties approach those of rare-earth magnets -- in the laboratory relied on impractical methods, they said.

The researchers are hoping to work with major magnet manufacturers to determine whether tetrataenite could be suitable for high-performance magnets.

“Rare earth deposits exist elsewhere, but the mining operations are highly disruptive: you have to extract a huge amount of material to get a small volume of rare earths,” Lindsay Greer from Cambridge’s Department of Materials Science & Metallurgy, who led the research, said in the paper. “Between the environmental impacts, and the heavy reliance on China, there’s been an urgent search for alternative materials that do not require rare earths.”

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>>> Biden awards $2.8 billion to boost U.S. minerals output for EV batteries


Reuters

Oct 19, 2022

By David Shepardson and Ernest Scheyder


https://www.reuters.com/markets/us/us-awards-28-billion-ev-battery-grid-projects-2022-10-19/


WASHINGTON, Oct 19 (Reuters) - The Biden administration said on Wednesday it is awarding $2.8 billion in grants to boost U.S. production of electric vehicle batteries and the minerals used to build them, part of a bid to wean the country off supplies from China.

"By undercutting U.S. manufacturers with their unfair subsidies and trade practices, China seized a significant portion of the market," President Joe Biden said Wednesday in announcing the awards."Today we're stepping up... to take it back, not all of it, but bold goals."

Albemarle Corp (ALB.N) is among the 20 manufacturing and processing companies receiving U.S. Energy Department grants to domestically mine lithium, graphite and nickel, build the first large-scale U.S. lithium processing facility, construct facilities to build cathodes and other battery parts, and expand battery recycling.

The grants, which are going to projects across at least 12 states, mark the latest push by the Biden administration to help reduce the country's dependence on China and other nations for the building blocks of the green energy revolution.

The funding recipients, first reported by Reuters, were chosen by a White House steering committee and coordinated by the Energy Department with support from the Interior Department.

But the program does nothing to alleviate permitting delays faced by some in the mining industry.

Albemarle is set to receive $149.7 million to build a facility in North Carolina to lightly process rock containing lithium from a mine it is trying to reopen. That facility would then feed a separate U.S. plant that the company said in June would double the company's lithium production for EV batteries.

Albemarle, which also produces lithium in Australia and Chile, said the grant "increases the speed of lithium processing and reduces greenhouse gas emissions from long-distance transportation of raw minerals."

Piedmont Lithium Inc (PLL.O), whose shares rose nearly 11% following the news, was awarded $141.7 million to build its own lithium processing facility in Tennessee, where the company will initially process the metal sourced from Quebec and Ghana. Piedmont's plans to build a lithium mine in North Carolina have faced strong opposition.

Talon Metals Corp (TLO.TO), which has a nickel supply deal with Tesla Inc (TSLA.O), will receive $114.8 million to build a processing plant in North Dakota. That plant will process rock extracted from its planned underground mine in Minnesota.

The grants are "a clear recognition that production of domestic nickel and other battery minerals is a national priority," Talon said.

Other grants include $316.2 million to privately-held Ascend Elements to build a battery parts plant, $50 million to privately-held Lilac Solutions Inc for a demonstration plant for so-called direct lithium extraction technologies, $75 million to privately-held Cirba Solutions to expand an Ohio battery recycling plant, and $219.8 million to Syrah Technologies LLC, a subsidiary of Syrah Resources Ltd (SYR.AX), to expand a graphite processing plant in Louisiana.

BIDEN'S GOAL

By 2030, Biden wants 50% of all new vehicles sold in the United States to be electric or plug-in hybrid electric models along with 500,000 new EV charging stations. He has not endorsed the phasing-out of new gasoline-powered vehicle sales by 2030.

Legislation tied to the program that Biden signed in August sets new strict battery component and sourcing requirements for $7,500 consumer EV tax credits. A separate $1 trillion infrastructure law signed in November 2021 allocates $7 billion to ensure U.S. manufacturers can access critical minerals and other components to manufacture the batteries.

The White House said that the United States and allies do not produce enough of the critical minerals and materials used in EV batteries.

"China currently controls much of the critical mineral supply chain and the lack of mining, processing, and recycling capacity in the U.S. could hinder electric vehicle development and adoption, leaving the U.S. dependent on unreliable foreign supply chains," the White House said.

In March, Biden invoked the Defense Production Act to support the production and processing of minerals and materials used for EV batteries.

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Lynas Rare Earths - >>> More Governments Are Warming to Rare Earths Funding, Lynas Says


Bloomberg

by Harry Brumpton

August 3, 2022


https://finance.yahoo.com/news/more-governments-warming-rare-earths-092455500.html


(Bloomberg) -- Lynas Rare Earths Ltd. said more developed nations could invest in new capacity for the critical minerals, after the US government agreed $120 million of funding for the company’s planned facility there.

Governments in Western Europe, the US, and Japan are newly focused on creating more resilient supply chains, Chief Executive Officer Amanda Lacaze said at the Diggers & Dealers Mining Forum in Kalgoorlie, Australia on Wednesday. She said she doesn’t expect Australia to provide the sort of financial backing that the US put toward a planned facility in Texas.

“We have engaged certainly with the EU and their objective to increase independence in this area. I think there is potentially a preparedness for direct investment,” Lacaze said in an interview with Bloomberg News. Germany in particular understands that the automotive industry will need to have secure supply chains in future, she said.

Lynas is the only major producer of refined rare earths outside China. The Sydney-listed company signed a contract with the U.S. Department of Defense to establish a heavy rare earths separation facility in the US that it expects to be operational by 2025. That was one of the most direct interventions to date by developed nations increasingly concerned by China’s dominance in rare earths, essential elements in electronics and other sectors.

“Building a new facility in the US would not have been number one on our priority list if it was coming off our own balance sheet but given it was coming off the US government’s balance sheet, it moved up,” Lacaze said. “The Australian government is not comfortable with large grants so the Australian government provides loans, and I’m not comfortable with putting a lot of debt into our business.”

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>>> MP Materials - >>> It's no secret that the adoption of electric vehicles (EV) is shifting into high gear these days. But with all this enthusiasm, there are also well-warranted concerns that the production of rare earth metals, also known as rare earth oxides, or REOs, for the industry will be insufficient. Add to this the fact that China is responsible for the majority of REO production, and it's clear that a U.S.-based REO production company like MP Materials would be a compelling consideration for investors.

When digging into potential investments, one of the most alluring things one can find is that a company has a competitive advantage -- something which MP Materials has in spades. True to their name, REOs are rare, and the barrier to entry for prospective mining companies is formidable. MP Materials, however, has an invaluable asset in the Mountain Pass mine, which has helped the company to become the largest REO producer outside of China. Moreover, the company is developing a vertically integrated infrastructure that will result in it mining the metals, producing the concentrate, and developing rare earth magnets -- a critical component in EVs as well as other applications like drones and wind turbines.

In light of the fact that MP Materials is already generating revenue, earnings, and cash flow, growth investors who are reluctant to take on too much risk should find MP Materials especially interesting.


https://www.fool.com/investing/2022/07/22/3-growth-stocks-you-can-buy-right-now-for-under-10/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article


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>>> MP Materials Set to Join S&P MidCap 400


Yahoo Finance

July 22, 2022


https://finance.yahoo.com/news/mp-materials-set-join-p-224500695.html


NEW YORK, July 22, 2022 /PRNewswire/ -- MP Materials Corp. (NYSE:MP) will replace Sanderson Farms Inc. (NASD:SAFM) in the S&P MidCap 400 effective prior to the opening of trading on Wednesday, July 27. Cargill and Continental Grain acquired Sanderson Farms in a deal that closed today.

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