US Army opens bases to critical minerals plants

THE US Army has struck preliminary agreements with four companies to build critical minerals processing facilities on military installations, marking the first time commercial mineral plants have been sited on American bases, said Bloomberg News on Friday.REalloys, Titan Mining, ioneer and EnergyX will develop facilities for rare earth separation, graphite purification, boron and lithium processing respectively. REalloys will construct its rare earth facility at the Tooele Army Depot in Utah, with output stockpiled on-site for military use. Titan Mining will build a graphite purification plant at either Pine Bluff Arsenal in Arkansas or Anniston Army Depot in Alabama, said the newswire.Under the arrangements, companies fund and execute infrastructure improvements on the host installations in lieu of cash payments. Construction is expected to begin as early as 2027, with mineral production targeted from 2028.The deals advance the Trump administration’s drive to rebuild domestic critical minerals capacity and reduce dependence on Chinese imports. The minerals involved underpin defence technologies, consumer electronics and electric vehicles. Washington has pursued the strategy through a range of measures including government loans, equity stakes in mining companies and a planned $12bn stockpile.Geopolitical pressure has intensified recently after China placed export controls on US rare earth companies MP Materials and USA Rare Earth in apparent retaliation for Pentagon actions, said Bloomberg News.Ioneer, the only non-US company among the four, is listed in Sydney. Titan Mining is backed by Canadian mining billionaire Richard Warke. Shares in both companies rose sharply following the announcement, with Titan gaining as much as 12% and ioneer’s depositary receipts climbing more than 7%.The post US Army opens bases to critical minerals plants appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com