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Rush to Provide Domestic Critical Minerals as Alternative to Chinese Supply

Vancouver, British ColumbiaAnd January 12 2022 /PRNewswire/- United States of America News Group – Several governments around the world are vying for a location to secure critical minerals before the energy transition. Much of this concern relates to the need for an alternative supply source based on the very real threat of disruptions outside the world’s largest resource, China. Many supply chain issues are coming to the fore, causing more urgency in new developments. in a North America, Both Canada And United State They make efforts to improve their position as providers of the world. This has moved many mineral explorers, developers and producers into the business, including Ares Strategic Mining Company (TSXV: ARS) (Outdoor: ARSMF), MP Materials Corp. (NYSE: MP), Energy Fuel Company (NYSE: UUUU), Glencore plc (OTC: GLNCY), and Century Aluminum Company (NASDAQ: CENX).

During the fall of 2021, it was United States Geological Survey (USGS) He drafted an updated list of critical minerals for 2021, which explicitly listed 54 items ranked from highest to lowest supply chain risks based on a quantitative assessment.

Among the top 10 on the list was an important and often overlooked mineral, known as fluorspar. For more than a decade, concern about fluorspar supplies has been on the rise, such as China Historically, it restricted the export of a metal that is essential in the production of a variety of fluorine-containing products including refrigerants, coatings, foaming agents, and pharmaceutical intermediates.

In response to this growing need, Ares Strategic Mining Company (TSXV: ARS) (OTC: ARSMF) is working hard to develop the North American supply of fluorspar at the Lost Sheep Fluorspar Project, located in Delta, Utah – the only permitted fluorspar mine in the United States of America.

Ares In the process of increasing on-site production, by implementing new equipment and designing a new plant specifically designed for site ore, assembling a team of experienced employees and strategic partners in Asia With many fluorspar mining operations in places like Thailand And Laos.

Recently, Ares Its large 3-story facility, called the Block Factory, shipped ahead of schedule. It will be the only one of its kind in North America. their partners Mujim Group Committed to providing labor and experience for factory installation and improvement, and to help Ares To start operations as efficiently as possible.

“All components of our operations, construction, and production are lined up,” he said
James WalkerPresident and CEO of Ares Strategic Mining. “We have long-term plans to expand projects and companies over the coming years and expect it to become an important part of the US manufacturing landscape.”

Ares It successfully conducted mineral testing with its ore through a test plant earlier this year, producing a quality product along the way that meets the specifications required by the industry, all while demonstrating high recovery values.

Both international and domestic industrial manufacturers have shown great interest in Ares The product is currently in negotiations to develop contracts for future procurement of mineral fluorspar blocks. These blocks are expected to mainly supply the steel industries but will also feed the ceramic and glass industries.

The other important minerals that are talked about and that are displayed at the top of the USGS list are known as rare earth minerals. currently, MP Materials Corp. (NYSE:MP) owns and operates Mountain Pass, the only rare earth mining and processing site in North America.

deputy The latest contribution to the energy transition, comes with the announcement that it plans to build a US magnetic plant in Fort Worth, TexasAnd it entered into a long-term agreement with general motors To supply U.S. sourced and manufactured rare earth alloys and magnets to power over a dozen models using GM Ultium platform.

The plant is scheduled to produce NdFeB alloys and magnets with the capacity to power approximately 500,000 EV motors annually, while a gradual production ramp is expected to begin in 2023.

MP . material He has built an exceptional magnetic team and important business relationships that will accelerate our mission to restore the complete rare earth supply chain to United State,” He said MP . material Chairman and CEO, James Letinsky. “This is a very important occasion to reshape the American supply chain, and we are grateful for it GM Trust, commitment and leadership.”

Another company working on rare earth development is Energy Fuel Company (NYSE: UUUU), which recently announced a strategic project with nano powders To develop innovative technology for making rare earth metals.

energy fuel The new technology is believed to have the potential to revolutionize the rare earth metals industry by reducing production costs, reducing energy consumption and significantly reducing greenhouse gas emissions.

The President and CEO of Metal Fabrication is a critical step in the rare earth supply chain energy fuelAnd Mark S Chalmers. “energy fuel He has already brought the “crack and leached” capabilities of monazite back to the United States at White Mesa Mill in Utah, where today we produce high-purity mixed rare earth carbonates, ready for separation. No other company in the United States is currently producing a high purity REE product that is ready for separation at commercial levels.”

Aluminum is one of the most common metals on the list, but it is among the top ten supply chains most at risk.

Century Aluminum Company (NASDAQ: CENX) Primary aluminum capacity in both United States of America and in IcelandIts annual production is 320,000 tons of aluminum.

As part of its commitment to the goals of the ESG, aluminum horn He recently signed a Letter of Intent to supply the Grundartangi smelter for green electricity originating from two wind farms in Qir with a total capacity of 200 MW under development in Iceland.

Grundartangi . uses Iceland 100% renewable energy resources for the production of Natur-Al™ aluminum, which has one of the lowest carbon dioxide emissions footprints in the world. Natur-Al™ has less than a quarter of the carbon dioxide content of the industry average, meeting the growing demand from Europe Most consumers are concerned about the environment.

Another aluminum product, Arconic Company (NYSE: ARNC) Its sales rose 34% year over year in the third quarter of 2021 to $1.9 billion.

“Demand for our products remains very strong in all end markets even as the pandemic continues to affect our operations,” he said. Tim Myers, CEO of Arconic. The company’s revenue forecast is now in range $7.5 billion to 7.7 billion dollars for the whole of 2021 compared to the previous projected range of $7.3 billion to $7.6 billion.

For more information, go to: http://energymetalnews.com/2021/03/05/this-company-is-bringing-essential-mining-back-to-the-us-fueled-by-government-action/

Article source:

United States of America newsgroup
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