US Offshore Mineral Lease Request Begins Federal Evaluation Process

Impossible Metals

US offshore mineral lease evaluation commenced as the Department of Interior initiates assessment of deep-sea mining company Impossible Metals' request for critical minerals exploration off American Samoa. The unprecedented US offshore mineral lease application submitted to the Bureau of Ocean Energy Management (BOEM) on April 8th targets nickel, magnesium, cobalt, copper, and rare earth minerals using autonomous underwater robotics, representing the first commercial critical minerals lease request in federal outer continental shelf waters.

Federal Register Process Launches Public Comment Period

US offshore mineral lease evaluation will begin with Federal Register notice publication soliciting public comment on Impossible Metals' application under the Outer Continental Shelf Lands Act of 1953. BOEM regulates federally managed ocean areas spanning 3-200 nautical miles offshore, encompassing the outer continental shelf where critical minerals deposits potentially exist. This formal evaluation process marks unprecedented territory as BOEM has never issued commercial leases for critical minerals exploration or extraction according to the Congressional Research Service.

Meanwhile, the application targets ferro-manganese crusts and polymetallic nodules identified by BOEM studies as potential sources of manganese, nickel, cobalt, and rare earth minerals. These formations occur in areas offshore of US Pacific islands, including American Samoa, where Impossible Metals plans autonomous underwater robot deployment. The technology approach represents advanced deep-sea mining capabilities designed for minimal environmental impact while accessing strategic mineral resources.

Strategic Minerals Access Addresses Supply Chain Vulnerabilities

However, the lease request reflects broader US government priorities to secure domestic critical minerals access amid global supply chain vulnerabilities. Nickel, cobalt, copper, and rare earth elements represent essential materials for clean energy technologies, electric vehicle batteries, and defense applications. Offshore mineral resources could diversify supply sources beyond traditional mining jurisdictions while reducing import dependencies.

Therefore, American Samoa's location positions potential operations strategically within US territorial waters while accessing Pacific Ocean mineral formations. The outer continental shelf contains substantial untapped critical minerals reserves that could support domestic manufacturing and energy transition requirements. Federal evaluation will assess environmental impacts, technical feasibility, and regulatory frameworks for sustainable deep-sea mining operations.

Regulatory Precedent Shapes Future Deep-Sea Mining Policy

Furthermore, BOEM's evaluation will establish regulatory precedents for future commercial critical minerals applications in US waters. The comprehensive assessment includes environmental impact analysis, stakeholder consultation, and technical review of proposed mining methodologies. Federal agencies must balance resource development opportunities with marine ecosystem protection and existing ocean use activities.

As a result, the Impossible Metals application represents a test case for US deep-sea mining regulatory frameworks while addressing critical minerals supply security objectives. Successful evaluation could unlock substantial offshore mineral resources supporting domestic clean energy and defense industries. The precedent-setting nature of this application will influence future policy development for critical minerals extraction in federal waters.

The Metalnomist Commentary

The US offshore mineral lease evaluation represents a watershed moment for American critical minerals policy, potentially establishing the regulatory framework for accessing vast untapped seabed resources essential for clean energy and defense applications. While environmental considerations will require careful assessment, the strategic importance of reducing import dependencies for critical materials may drive supportive policy outcomes that could reshape US mineral supply chain security through innovative deep-sea mining technologies.

US Venezuelan Critical Mineral Licences Open Sanctions Path for Mining Investment

US, Venezuelan

US Venezuelan critical mineral licences have created a new legal route for mineral investment and operations in Venezuela under strict sanctions guidelines. The US Treasury Department issued new and amended general licences on 27 March, allowing limited mineral-related activities and contingent investment agreements.

The licences permit the supply of certain items and services for minerals operations. They also allow negotiations and contingent contracts for investment in Venezuela’s minerals sector, including certain contracts with state-owned miner Minerven if governed under US law.

US Venezuelan critical mineral licences reflect Washington’s attempt to reconnect parts of Venezuela’s resource sector with US-linked investment. However, the opportunity remains complicated by illegal mining, weak infrastructure, political risk and security concerns in key mineral regions.

Venezuela’s Mineral Potential Comes With High Execution Risk

Venezuela is believed to hold strategic resources including copper, nickel, columbite-tantalite and uranium, although available public data do not provide clear reserve volumes. The Orinoco Mining Arc in southern Bolívar state is one of the country’s richest mining regions, with deposits of coltan, bauxite, gold and other metals.

The Orinoco Mining Arc has been designated as a strategic development zone, but the region remains difficult for formal investors. Illegal mining, mineral smuggling, money laundering and the presence of non-government armed groups create serious operational and compliance risks.

Some public-private partnerships already operate in coltan-rich areas, while Venezuela’s armed forces also maintain mining activity through Camimpeg. These structures add further complexity for any foreign company evaluating due diligence, security and legal exposure.

Sanctions Relief Could Support Critical Mineral Strategy

US Venezuelan critical mineral licences come as the US seeks more diversified sources of technology and defense-related minerals. Venezuela’s potential resource base could attract interest if companies can manage sanctions compliance, contract structure, security and infrastructure constraints.

The new licences also follow Venezuela’s effort to open its mining sector to more investment. The national assembly passed a new mining law in an initial vote on 9 March, signalling a policy push to revive resource development.

Still, economic instability remains a major obstacle. Venezuela continues to face currency weakness, very high inflation and years of underinvestment across industrial infrastructure. These conditions mean sanctions relief alone will not quickly convert mineral potential into reliable supply.

The Metalnomist Commentary

The US Venezuelan critical mineral licences are strategically important, but they do not remove the hard risks on the ground. Venezuela may hold valuable minerals, yet the real test will be whether legal access, security, infrastructure and transparent sourcing can be aligned.

US Critical Mineral Processing Funding Targets Domestic Battery Supply Chain

Critical Mineral

US critical mineral processing funding is moving into another major round as the Department of Energy prepares to allocate up to $500mn for processing, recycling, and derivative battery manufacturing projects. The funding opportunity is designed to support US-based projects that can strengthen domestic supply of critical minerals and battery materials.

The Department of Energy will target projects that process raw feedstocks, recycle critical materials, or manufacture battery materials and components. The agency specifically identified battery-related materials such as lithium, graphite, nickel, copper, and aluminum among its areas of focus.

US critical mineral processing funding is becoming a central tool in Washington’s effort to reduce dependence on offshore refining and battery material supply chains. The latest funding round also shows that the US is not only focused on mining, but on the midstream capacity needed to convert raw materials into usable industrial inputs.

DOE Funding Pushes Midstream Capacity Beyond Mining

Critical mineral processing remains one of the most difficult gaps in the US battery supply chain. Mining projects can expand raw material availability, but domestic industrial resilience depends on refining, chemical conversion, recycling, and component manufacturing.

The new funding opportunity will support projects that can process critical minerals from raw feedstocks and recycle valuable materials back into the supply chain. This approach reflects the growing importance of black mass, scrap, and secondary materials as strategic inputs for battery production.

DOE battery materials funding also gives policy support to companies working across lithium chemicals, graphite processing, nickel products, copper materials, aluminum inputs, and battery component manufacturing. These segments are essential for electric vehicles, grid storage, defense electrification, and industrial energy systems.

Battery Manufacturing Policy Enters Third Funding Round

The latest funding notice marks the third round in recent years under the DOE’s battery materials processing and battery manufacturing and recycling programs. In September 2024, the agency selected 25 projects to receive more than $3bn to expand domestic battery, component, and critical material supply.

The new $500mn opportunity extends that policy direction. It gives the US another mechanism to move from strategic mineral rhetoric toward physical processing capacity, especially in areas where China still dominates global refining and battery material production.

Applicants must submit non-binding letters of intent by 27 March, with full applications due by 24 April. The timeline signals that the DOE wants near-term project visibility and a faster pipeline of investable domestic capacity.

US critical mineral processing funding will be especially important for companies that can prove commercial readiness, feedstock security, and scalable production. The strongest projects will likely be those that connect raw material access with downstream battery customers and recycling loops.

The Metalnomist Commentary

The US is now treating processing capacity as the real bottleneck in critical minerals security. Funding can accelerate projects, but the strategic test will be whether supported companies can deliver cost-competitive, qualified material at industrial scale.

Most South African Mineral Exports to US Avoid Tariff Impact

South African Mineral Mining

PGMs, Gold, and Titanium Spared in Latest US Tariff Round

Most of South Africa’s mineral exports to the US, including platinum group metals (PGMs), have been exempted from new US tariffs. US President Donald Trump’s 2 April tariff announcement excluded PGMs, gold, manganese, titanium, chrome, and coal from the list of affected imports.

These exemptions are significant, as PGMs accounted for 76% of the R65.3 billion ($3.4 billion) in mineral and precious metal exports from South Africa to the US in 2024. However, iron ore and diamonds from South Africa will be subject to a 30% tariff, potentially straining trade ties and impacting specific sectors.

Auto Tariffs Threaten Downstream PGM Demand

A separate 25% tariff on US vehicle imports came into effect on 6 June, with auto parts tariffs set for 3 May. According to the Minerals Council South Africa (MCSA), these tariffs may reduce US auto demand, which in turn could lower PGM consumption.

PGMs—especially platinum, palladium, and rhodium—are essential in autocatalysts that reduce vehicle emissions. Lower car production would decrease catalyst demand, causing short-term price volatility in these critical metals.

Still, the MCSA remains optimistic about the long-term demand outlook for PGMs, citing structural demand drivers in clean mobility and hydrogen.

Limited Retaliation Options for South Africa

Despite the exemptions, broader trade tensions could still hurt South Africa’s mining sector. South Africa ships 7% of its total exports to the US, while accounting for just 0.25% of US imports—a disparity that limits its ability to retaliate.

Think tank Trade and Industrial Policy Strategies emphasized the need for diversification, urging South African exporters to find alternative markets. With the global economy under pressure from rising trade barriers, the ripple effect could dampen overall commodity demand and GDP growth.

The Metalnomist Commentary

The exemptions granted to South Africa’s key mineral exports show strategic prioritization by the US to maintain critical supply chains. Yet, the indirect consequences—especially in sectors like automotive and high-tech—may eventually flow back to impact even exempted metals. The situation reinforces the need for South Africa to accelerate market diversification and downstream value-add strategies in mining.

US Accelerates Critical Mineral Project Permits to Boost Supply Chain Independence

US Critical Mineral

Critical Mineral Project permits

The US government is fast-tracking critical mineral project permits under a new federal initiative to expand domestic mineral production. This strategic move prioritizes lithium and copper projects vital to the country’s energy and defense supply chains.

The first 10 projects include ventures by Standard Lithium, Equinor, Albemarle, Rio Tinto, and BHP. These developments are in various permitting stages at both federal and state levels, aiming for quicker environmental reviews and project approvals.

National Energy Dominance Council to Oversee Permitting Process

President Donald Trump’s executive order, issued on 20 March, directs agencies to list projects for the National Energy Dominance Council (NEDC). These projects will be added to the Federal Permitting Dashboard to ensure transparency in authorization timelines.

By 2 May, the first permitting schedules will go live on the dashboard. New projects will be added in coming weeks. The goal is to streamline timelines and reduce bureaucratic delays that have historically slowed down mine development.

Expanding the Scope of Critical Mineral Classification

The initiative covers all 50 critical minerals defined by the US Geological Survey (USGS), including lithium, rare earths, and graphite. However, it also includes other strategic materials like copper, uranium, gold, and potash, despite their exclusion from the USGS list.

This broader scope reflects growing demand across clean energy, semiconductor, and defense sectors. By prioritizing critical mineral project permits, the US aims to reduce foreign dependence and enhance national security.

 

The Metalnomist Commentary

The fast-tracking of critical mineral project permits reflects Washington’s urgency in reshoring vital mineral supply chains. If implemented efficiently, this initiative could redefine global mineral trade routes and industrial competitiveness.

Brazil Critical Minerals Deals With US Highlight Rare Earths and Lithium Strategy

Brazil Critical Minerals Deals

Brazil critical minerals deals with the US are gaining momentum as Goias and Minas Gerais move to deepen cooperation on rare earths, lithium, and other strategic minerals. The two neighboring states hold some of Brazil’s most important mineral reserves and are trying to position themselves inside the global critical minerals supply chain.

Goias has signed a preliminary agreement with the US to support cooperation around rare earth reserve development. Minas Gerais is also preparing a similar agreement focused on lithium and other critical minerals.

Brazil critical minerals deals at the state level are not legally binding and do not grant exploration rights. However, they can support research, technical training, environmental licensing coordination, and tax incentives for foreign companies.

Goias and Minas Gerais Push Beyond Raw Mineral Exports

Goias is seeking to use US cooperation to improve mineral mapping, technical capability, and project development. The state wants to move beyond raw mineral exports and build stronger capacity around higher-value mineral development.

This ambition matters because Brazil has major resource potential but remains cautious about becoming only a supplier of unprocessed critical minerals. Rare earths, lithium, and other strategic materials carry far greater industrial value when linked to processing, refining, separation, and downstream manufacturing.

Minas Gerais adds another strategic layer because it holds Brazil’s largest lithium reserves. Together, Goias and Minas Gerais could become important partners for the US as Washington looks to diversify supply chains away from China-dominated critical mineral processing.

State-Level Diplomacy Pressures Brazil’s Federal Strategy

Brazil critical minerals deals with individual states also carry political weight. Goias and Minas Gerais are led by governors more aligned with the Trump administration than Brazil’s federal government, creating a possible pressure point in national trade negotiations.

President Luiz Inácio Lula da Silva has resisted any agreement that does not include commitments to develop processing and refining capacity inside Brazil. That position reflects a wider industrial policy concern: Brazil wants mineral value creation, not only mineral extraction.

The US has already signed critical minerals agreements with several Latin American countries, including lithium producers Chile, Bolivia, and Argentina, as well as copper-rich Ecuador and Peru. Brazil remains a tougher negotiator because it has the resource base, market size, and political incentive to demand more domestic value addition.

The Metalnomist Commentary

Brazil critical minerals deals show that resource diplomacy is moving from national capitals to state governments. The central question is whether Brazil can turn US interest into processing, refining, and industrial capacity rather than another raw-material export cycle.

IperionX Launches Feasibility Study for U.S. Titanium and Rare Earth Project

IperionX Project

Titan Project Targets Domestic Titanium, Rare Earths, and Zirconium Supply

U.S.-based IperionX has initiated a definitive feasibility study (DFS) for its Titan Critical Minerals project in Tennessee. The project, backed by more than $60 million in U.S. federal funding, aims to support a domestic titanium supply chain. The DFS is scheduled for completion by the second quarter of 2026.

Titan contains titanium, zirconium, and both light and heavy rare earth elements (REEs). Notably, it holds critical materials like dysprosium, terbium, neodymium, and praseodymium, which are essential for national defense and advanced technologies. IperionX says Titan has the potential to become the largest U.S. source of heavy REEs.

U.S. Strategic Goals Back Critical Mineral Development

The U.S. government’s financial support reflects the national urgency to reduce dependence on foreign critical mineral imports. These elements are vital for electric vehicles, wind turbines, and military technologies. Meanwhile, the ongoing progress at IperionX’s Virginia titanium facility signals broader ambitions to onshore titanium metal production.

IperionX is uniquely positioned as both a miner and metal producer, aligning with the Department of Defense’s push for vertical integration of strategic materials. Its titanium output, paired with rare earths from Titan, would significantly enhance U.S. resource security.

Focus Keyphrase: Titan Critical Minerals Project

The Titan Critical Minerals project represents a major leap toward domestic critical mineral self-sufficiency. With a unique mix of titanium, zirconium, and rare earths, Titan stands out among U.S. mineral assets. IperionX’s dual approach—upstream mining and downstream processing—further strengthens the value chain.

As global supply chains shift and geopolitical risks rise, Titan’s progress could redefine the U.S. role in global critical mineral markets.

The Metalnomist Commentary

Titan is more than a mine; it is a strategic asset. IperionX’s development could reshape America’s critical materials future—especially for defense and clean tech.

DRC-Rwanda Peace Deal Could Reshape Tantalum Supply Chains

DRC Rwanda

Focus keyphrase: DRC-Rwanda peace deal

The DRC-Rwanda peace deal marks a turning point for mineral supply chains disrupted by over a year of regional conflict. On June 27, ministers from both nations are scheduled to sign a US- and Qatar-brokered draft agreement aimed at stabilizing eastern DRC. The agreement outlines disengagement of armed groups, territorial safeguards, and regional economic integration — all critical for restoring confidence in monitored mineral flows, especially tantalum.

However, market sentiment remains cautious as details about US investments are unclear and security conditions on the ground are still unstable. Even with this draft peace deal, many buyers and refiners continue to hesitate, concerned about conflict minerals and opaque sourcing risks. The tantalum supply chain — heavily dependent on artisanal and small-scale mining (ASM) in North Kivu — faces ongoing due diligence challenges.

Peace Agreement Tied to Strategic Mineral Talks with the US

The DRC-Rwanda peace deal lays the groundwork for potential US-DRC mineral agreements, which could reshape global sourcing strategies. DRC President Felix Tshisekedi and Senator Pierre Kanda Kalambayi previously proposed a comprehensive minerals security deal with the US. The proposal includes extraction rights for US firms, control of the Banana deepwater port, a strategic stockpile, and military training partnerships.

If these proposals materialize, the DRC could see increased foreign investment in downstream processing, moving the country beyond raw mineral exports. However, the scope of actual US commitments and their implementation timeline remain unclear. This uncertainty limits the immediate bullish response from industrial buyers and critical mineral traders.

Tantalum Markets Still Disrupted by Rebel-Controlled Territory

Despite diplomatic progress, M23’s control of eastern DRC territory continues to threaten tantalum supply chains. The seizure of Rubaya, Goma, and Bukavu has cut off major sources of monitored tantalite. These areas are key hubs for tantalum exports, and their occupation has introduced smuggled material into global supply streams, complicating OECD-aligned due diligence efforts.

Until secure logistics corridors and third-party verification systems are reestablished, tantalum refiners and electronics manufacturers may turn to alternative suppliers or delay sourcing decisions. For now, smuggling and instability keep price volatility high and certification efforts constrained.

The Metalnomist Commentary

The DRC-Rwanda peace deal is a long-needed diplomatic step, but its impact hinges on actual demilitarization and foreign engagement. Unless mineral security frameworks become enforceable, trust in DRC-origin material will remain fragile. The tantalum market, in particular, demands verified sourcing channels to rebuild supply chain confidence.

US scandium oxide national stockpile move signals rising critical mineral urgency

US Defense Logistics Agency

The US scandium oxide national stockpile decision marks a major shift in Washington’s critical mineral strategy. The Defense Logistics Agency (DLA) has added scandium oxide to the National Defense Stockpile and is now seeking multi-year supply contracts. This move embeds the US scandium oxide national stockpile firmly within defense planning for semiconductors, electronics and advanced alloys.

Rio Tinto anchors US scandium oxide national stockpile supply

Rio Tinto currently stands as the only North American supplier able to meet the US scandium oxide national stockpile requirements. The company produces high-purity scandium oxide from titanium dioxide waste streams at its RTIT Quebec Operations in Sorel-Tracy, Canada. As a result, the DLA’s request for information found Rio Tinto alone could commit scalable scandium oxide supply.

The agency issued a May RFI on scandium metal and received responses from four companies. However, only Rio Tinto confirmed both capability and availability to supply scandium oxide into the National Defense Stockpile. This underscores how fragile current supply chains are for a material vital to next-generation electronics and aerospace alloys.

Scandium joins wider US critical minerals stockpile push

The scandium oxide tender sits within a broader push to harden US critical mineral supply chains. In early September, the DLA issued tenders and RFIs covering cobalt, bismuth, high-purity aluminum, scandium flake, niobium and ferro-niobium. Together, these moves align the US scandium oxide national stockpile effort with a multi-metal resilience agenda.

Rio Tinto first produced commercial-scale high-purity scandium oxide at Sorel-Tracy in 2022. That milestone made it North America’s only scandium oxide producer and a natural anchor for DNS procurement. Going forward, the DLA’s “indefinite quantity” contracts over five years could help underwrite new capacity, but they also highlight concentrated supplier risk.

The Metalnomist Commentary

Bringing scandium oxide formally into the US National Defense Stockpile confirms its elevation from niche alloying element to strategic asset. The reliance on a single qualified North American producer underscores both progress and vulnerability in the current supply chain. Expect US policymakers to encourage additional scandium by-product and standalone projects if demand from defense and semiconductors continues to rise.

EU US Critical Minerals Action Plan Targets Supply Chain Security

US EU

EU US Critical Minerals Action Plan marks a deeper transatlantic effort to secure strategic raw materials as China export controls and global protectionism reshape industrial supply chains. The US and EU have signed the plan to diversify sourcing, strengthen resilience and coordinate responses to mineral supply disruptions.

The EU US Critical Minerals Action Plan is significant because it moves beyond general diplomatic language. It allows both sides to use trade and market tools, including border-adjusted price floors, standards-based markets, subsidies to close price gaps and offtake agreements.

The EU US Critical Minerals Action Plan also includes stockpile cooperation, technical coordination, regulatory alignment and standards for mining, processing and recycling. This shows that Washington and Brussels are now treating critical minerals as industrial security assets, not only commodity inputs.

Price Floors and Offtake Tools Signal Stronger Market Intervention

The plan highlights a major shift in western raw materials policy. The US and EU are preparing to coordinate tools that can make non-China supply more commercially viable.

Border-adjusted price floors could help protect strategic mineral projects from low-cost competition. This matters because many western projects struggle to compete against established Chinese processing chains when prices fall.

Subsidies to address price gaps serve the same purpose. They can help bridge the cost difference between secure, traceable supply and cheaper material from dominant incumbent producers.

Offtake agreements are also central. Long-term purchase commitments can give miners, refiners and recyclers the revenue visibility needed to finance new capacity.

This is especially important for rare earths, gallium, germanium, graphite, lithium, cobalt, nickel, manganese and other strategic materials. Many of these markets are small, volatile or heavily concentrated in processing.

The plan also points to standards-based markets. This could support supply chains where environmental, labour, traceability and security standards become part of pricing.

For suppliers, the message is clear. Western buyers may increasingly pay for origin, compliance and resilience, not only the lowest spot price.

Transatlantic Coordination Raises Pressure on China-Linked Supply Chains

The plan will be implemented by the office of the US trade representative and the European Commission’s Directorate-General for trade and economic security. That structure places critical minerals directly inside trade and economic security policy.

The US has already moved aggressively in critical minerals. It has used the Defense Production Act, supported price floors and offtake agreements, and invested in overseas mineral assets to reduce reliance on China.

The EU has historically been more cautious about direct market intervention. However, its position is changing as supply risks increase and European manufacturers face tighter access to strategic raw materials.

Earlier this month, the European Commission launched a critical raw materials platform to match EU buyers with suppliers and aggregate demand. The new US-EU action plan builds on that direction and gives Europe a broader external coordination channel.

Rapid response mechanisms are also important. Export controls, shipping disruption, sanctions or sudden shortages can quickly affect defence, semiconductors, batteries, magnets, aerospace and clean energy manufacturing.

Stockpile cooperation could provide a temporary buffer. But the larger strategic goal is to build durable supply, processing and recycling capacity across allied economies.

The plan therefore strengthens the policy architecture for western mineral security. It also raises the likelihood that future raw material trade will be shaped by origin rules, price support, industrial standards and government-backed purchasing.

The Metalnomist Commentary

The EU-US plan shows that critical minerals policy is moving from risk awareness to market design. The decisive question is whether price floors, offtakes and subsidies can create real processing capacity before the next supply shock hits.

ReElement Technologies Eyes $150mn Boost for US Rare Earth Refinery

ReElement Technologies

Expanding US Rare Earth Refining Capacity

ReElement Technologies has secured a letter of interest from the US Export-Import Bank for up to $150mn in funding to expand its rare earth element (REE) and critical mineral refinery in Indiana. The investment would support the Marion Advanced Technology Center, enhancing its ability to produce 99.5% purity rare earth oxides and compounds, including neodymium, dysprosium, terbium, samarium, yttrium, and gadolinium. This expansion aims to strengthen the United States’ domestic capacity to refine critical materials essential for clean energy, defense, and advanced manufacturing sectors.

The Marion facility, acquired in 2023, spans 50,000m² and is being transformed into a commercial-scale refining hub capable of producing not only rare earth oxides but also lithium carbonate, lithium hydroxide, and transition metals. This scale positions ReElement as a potential leader in US-based REE processing.

Competing with Chinese Production Costs

ReElement also operates a 700m² Commercial Validation Facility in Noblesville, Indiana, which produces REEs and battery-critical elements. The company claims to be one of the few — possibly the only — US commercial entity capable of producing these high-purity materials at costs competitive with, or lower than, Chinese production. This capability could significantly reduce the nation’s dependency on Chinese supply chains, a key strategic priority amid rising geopolitical tensions and growing demand for REEs in electric vehicles, wind turbines, and military technologies.

Industry analysts note that achieving cost parity with Chinese producers has historically been a major barrier for US refiners. If ReElement can scale production while maintaining cost efficiency, it could reshape the competitive landscape in the global REE market.

Strategic Implications for US Supply Chain Security

The potential $150mn financing aligns with Washington’s push to localize critical mineral supply chains. Rare earth elements are essential for energy transition technologies and high-performance defense systems, yet the US currently relies heavily on imports for refined materials. By expanding domestic refining capacity, ReElement could play a pivotal role in mitigating supply risks, fostering industrial resilience, and supporting US manufacturing competitiveness.

Furthermore, the partnership with the US Export-Import Bank underscores growing federal willingness to financially back strategic resource projects. This model of public-private collaboration may serve as a blueprint for accelerating critical mineral infrastructure nationwide.

The Metalnomist Commentary

ReElement’s potential funding deal is a milestone in US rare earth refining ambitions. By scaling production to commercial levels while competing with China on cost, the company could become a cornerstone of America’s critical mineral strategy. The challenge will be ensuring that operational efficiency and market demand grow in lockstep with expanded capacity.

US Antimony Montana Smelter Expansion to Boost Domestic Critical Mineral Processing

US Antimony

Capacity to Increase Six-Fold Amid Strategic Demand for Antimony

The US Antimony Montana smelter expansion marks a significant step in strengthening America’s domestic critical mineral infrastructure. US Antimony announced plans to increase capacity six-fold to 300 tons/month, reinforcing its role as the only operational antimony smelter in the United States. The $15 million project will support growing demand across flame retardants, defense applications, and lead-alloy battery manufacturing.

Domestic Processing Capabilities Get a Strategic Boost

The US Antimony Montana smelter expansion is particularly timely, given rising geopolitical interest in critical mineral self-sufficiency. Antimony plays a key role in military-grade materials and energy storage, making local refining capacity strategically vital. The company also restarted its Madero smelter in Mexico earlier this month, signaling broader regional efforts to scale up antimony processing in North America.

Investment Reflects Long-Term Critical Mineral Prioritization

The Montana expansion supports U.S. government goals under the Defense Production Act and various critical minerals strategies aimed at reducing import dependence. As China dominates global antimony supply chains, initiatives like the US Antimony Montana smelter expansion enhance national resilience while meeting industrial and defense-related demand.

The Metalnomist Commentary

The US Antimony Montana smelter expansion underscores a pivotal reshoring trend in the U.S. critical minerals sector. As antimony remains essential for both civilian and military supply chains, expanding domestic smelting capacity is a strategic and economic imperative.

US Shifts DRC Strategy in Play for Minerals

DRC Mining

Washington’s pivot to resource diplomacy marks renewed interest in African lithium and cobalt amid China rivalry

KoBold Eyes Lithium as US Reengages in the DRC

The US is renewing its focus on the Democratic Republic of Congo (DRC), with minerals now central to diplomatic strategy. KoBold Metals, backed by Jeff Bezos, is in talks to acquire the Manono lithium project—America’s first major DRC investment since 2016. Meanwhile, the DRC offered the US access to mineral assets in return for help against the M23 insurgents in the northeast. As a result, the Manono mine, with 400mn tonnes at 1.65% lithium oxide, could become a strategic anchor for US battery supply chains.

Tshisekedi Looks to Trump, Presses for Security-Mineral Pact

President Felix Tshisekedi asked for US assistance during a recent Fox News interview, linking mineral rights to security support. He emphasized the need for American pressure and sanctions to suppress rebel groups threatening national stability. In return, the DRC hopes to forge a long-term economic and security partnership with Washington that echoes past Cold War-era ties.

US Seeks Leverage as China Dominates Cobalt Market

China owns 21 of 28 major cobalt mines in the DRC, including Tenke Fungurume and Kisanfu, the world’s largest cobalt producers. However, Beijing has shown reluctance to provide military aid, prompting Kinshasa to court U.S. engagement as a counterweight. Meanwhile, the U.S. has eased corruption compliance rules, possibly paving the way for broader business involvement in high-risk jurisdictions.

The Metalnomist Commentary

America’s mineral diplomacy in the DRC may redefine Africa’s geopolitical alignment. KoBold’s bid is more than a business move—it's a signal of strategic intent. Yet risks remain. Any minerals-for-security pact will demand clear red lines to avoid entanglement in regional conflict. The DRC’s mineral wealth is unmatched, but its volatility is equally unparalleled.

US Copper Flows Shift West as Washington Targets African Supply Chains

Copper

US copper flows are becoming a strategic policy priority as Washington seeks to redirect African copper away from China-oriented supply chains and into western manufacturing networks. The shift shows how copper is moving beyond its traditional role as an industrial commodity.

US policymakers are pursuing a dual strategy. They want to accelerate domestic copper projects and processing while also securing international copper sources that can feed US and allied supply chains faster.

The Democratic Republic of Congo has become central to this effort. The country offers high-quality resources and faster supply potential than many long-dated greenfield copper projects.

US copper flows are therefore being reshaped through offtake agreements, financing structures, infrastructure plans and strategic partnerships. The goal is to create secure mine-to-end-use supply chains that support American manufacturing and reduce dependence on China-linked material routes.

African Copper Becomes a Strategic Supply Target

The DRC’s copper output has historically moved east into Chinese-controlled or China-oriented value chains. Washington now wants to build alternative routes that connect African copper to the US and allied industrial base.

This is not only about copper cathode or concentrate volumes. It is about who controls logistics, financing, offtake, processing and final market access.

The US is already using state-backed financing and trading structures to compete for African copper and cobalt. The DRC, Zambia and Guinea are emerging as priority jurisdictions in this wider mineral strategy.

Glencore’s possible sale of a 40% stake in two DRC copper-cobalt mines to the US-backed Orion Critical Mineral Consortium shows how policy and capital are beginning to move together. More US interest is also emerging in Congolese copper-cobalt, manganese, gold and lithium assets.

This matters because China has built deep influence across African mining, processing and trading channels. Western buyers cannot change copper flows only by expressing demand. They need financing, infrastructure, political support and long-term offtake commitments.

The US strategy also reflects a broader recognition that copper supply security cannot rely only on domestic mines. US copper resources are substantial, including brownfield leach opportunities and idle stockpiles, but permitting remains a major constraint.

International supply partnerships can move faster than many US projects. That makes African copper strategically valuable as Washington tries to support manufacturing, grid expansion, defence supply chains and electrification.

Inventory Distortions Change Copper Market Economics

US copper flows are also being affected by tariff expectations and inventory shifts. Around 1.9mn-2mn t of copper metal inventory is now sitting globally, with roughly 1.2mn t located in the US.

That is an unusually high share because the US consumes about 2mn t/yr, while China consumes roughly 15mn t/yr. The result is a market where headline global stocks look large, but copper outside the US can feel much tighter.

This inventory concentration changes copper economics. The same copper unit can carry different value depending on location, policy exposure, tariff risk and available delivery route.

That marks a major shift from the older copper market model. Copper was once priced mainly around construction cycles, manufacturing demand and visible exchange stocks. It is now increasingly priced around jurisdiction, logistics and strategic access.

The CME-LME arbitrage has reopened to encourage flows into the US. This reflects how policy expectations can pull metal across regions even when global balances appear more comfortable.

Physical demand remains supportive. Chinese demand has stayed resilient, Yangshan premiums have strengthened, and Shanghai inventories have continued to draw. These signals suggest that the broader copper market remains tighter than simple stock numbers imply.

Copper’s role in grids, electrification and data centres has also changed how governments view the metal. Copper is now becoming a strategic asset for industrial policy, not only a material input for construction and manufacturing.

The biggest commercial opportunities may therefore shift from pure price arbitrage to control over flows. Traders, miners and governments will increasingly compete through logistics, financing, offtake and jurisdictional positioning.

US copper flows will remain central to that competition. The race is no longer only about producing more copper. It is about deciding where copper goes, who processes it and which industrial systems it supports.

The Metalnomist Commentary

Copper is becoming a policy metal because electrification has turned physical access into a strategic advantage. The next copper cycle will not be defined only by price, but by who controls African supply routes, financing and end-use allocation.

US Antimony Bolivia Processing Facility Expands the Western Antimony Supply Chain

US Antimony, Bolivia plant

The US Antimony Bolivia processing facility could strengthen one of the West’s most constrained critical mineral chains. US Antimony said it helped develop a hydrometallurgical facility in Bolivia to refine antimony and other critical minerals at commercial scale. The company will be the sole recipient of processed antimony flake from the site. As a result, the US Antimony Bolivia processing facility may become an important upstream support point for western antimony supply.

This development matters because antimony remains strategically sensitive and commercially tight. US Antimony expects the higher-quality flake from Bolivia to raise throughput at its Thompson Falls smelter in Montana. The company plans to receive an initial 150-metric-tonne shipment in February or March. Therefore, the US Antimony Bolivia processing facility is not just a technology project. It is already linking directly to near-term metal and trioxide production.

The agreement also gives US Antimony more than supply access. The company secured the exclusive right to duplicate the Bolivian hydrometallurgical process in North America and Australia. That means the US Antimony Bolivia processing facility could serve as a template for wider regional expansion. Consequently, the project may help create a more scalable western antimony processing model.

Hydrometallurgical Antimony Processing Offers a Faster Route to Capacity Growth

Hydrometallurgical antimony processing is becoming the most important strategic feature of this deal. US Antimony said the Bolivian facility expanded output 15-fold since it began funding the site in mid-2025. That rise suggests the processing route can scale quickly when supported with capital and feedstock. As a result, hydrometallurgical antimony processing may offer a more flexible alternative to slower traditional capacity build-outs.

The feedstock base also supports the project’s commercial relevance. The facility uses stibnite concentrate or tetrahedrite concentrate to produce antimony. That flexibility matters because diversified feed options can improve plant utilisation and reduce procurement risk. Meanwhile, the company noted that similar methods and equipment could also refine other critical minerals. Therefore, the process may carry broader value beyond antimony alone.

This model fits the current strategic environment in critical minerals. Governments and processors increasingly want smaller, faster, and more adaptable refining assets. Large mining projects still matter, but midstream processing gaps often create the real bottlenecks. Consequently, hydrometallurgical antimony processing may attract stronger attention from both policymakers and investors.

Western Antimony Supply Chain Ambitions Are Moving Toward Domestic Replication

Western antimony supply chain strategy now appears to be shifting from dependence toward duplication. US Antimony said it expects to develop one or more hydrometallurgical facilities in the United States in the near future. Those sites would likely be located in the western continental US and or Alaska. Therefore, the company is clearly aiming to regionalise the process rather than rely on Bolivia alone.

Funding plans reinforce that ambition. US Antimony requested $44mn from the US Department of Energy for a US hydrometallurgical facility. It also plans to seek Department of Defense support for another location near Montana. That combination suggests the company sees antimony as both a commercial opportunity and a strategic materials priority. As a result, the western antimony supply chain could gain a stronger domestic processing base if funding is secured.

The broader implication is significant for critical minerals markets. Antimony has often been discussed as a supply risk, but less often as a processing challenge. This project changes that framing by focusing on conversion capacity and material quality. If US Antimony can replicate the Bolivian model successfully, it may move from being a niche processor to a more important builder of western antimony supply resilience.

The Metalnomist Commentary

This story matters because it is about process control as much as metal supply. US Antimony is trying to turn one successful hydrometallurgical model into a repeatable western platform. If that strategy works, antimony could become a rare example of a critical mineral chain that improves through midstream replication rather than waiting for major new mines.

US-China critical minerals trade masks big strategic risks

US-China Critical minerals

The US-China critical minerals trade looks small in dollar terms but carries outsized strategic risks for key industries. The US-China critical minerals trade was worth just $2bn in 2024, only 3pc of US critical mineral imports. However, the US-China critical minerals trade underpins defence, high-tech manufacturing and energy systems that generate trillions in economic value.

Small trade volumes, large exposure to China

Macquarie research shows US critical mineral imports totalled $65bn in 2024 under the new 60-mineral list. Bulk materials like aluminium, copper and PGMs dominate the import bill and come mainly from partners such as Canada and Chile. By contrast, China supplied only $2bn, far below Canada’s $21bn or Chile’s $6.6bn.

However, China’s leverage rests in concentration, not value. It controls about 70pc of global rare earth mining and 90pc of processing. As a result, even small tonnages of Chinese exports can be mission-critical for US defence and advanced manufacturing. Any targeted export controls could therefore disrupt high-value supply chains well beyond the trade numbers.

Export controls could hit US GDP and strategic sectors

Macquarie estimates Chinese export controls on select minerals could each cut US GDP by more than $1bn in a year. Samarium restrictions show the highest impact, at an estimated $4.5bn loss, because of its critical role in defence. Meanwhile, curbs on lutetium could shave $2.1bn from GDP, mainly affecting refineries and semiconductor producers.

Controls on terbium, dysprosium and gallium would similarly reverberate across magnets, EV motors, wind turbines and high-frequency electronics. Therefore the economic risk from the US-China critical minerals trade lies in concentrated choke points, not headline trade flows. That reality is now shaping US industrial policy, stockpiling strategies and onshoring of processing capacity.

The Metalnomist Commentary

This analysis reinforces why Washington treats rare earths and related metals as strategic assets, not simple commodities. Even modest Chinese export controls could ripple through defence, semiconductor and energy transition value chains. Expect continued moves by the US and allies to diversify sourcing, build domestic refining and expand recycling to reduce this asymmetric exposure.

US seeks critical minerals to grow stockpile and bolster defense security

US seeks critical mineral mining

US seeks critical minerals to grow stockpile as Washington accelerates defense supply chain security efforts. The Defense Logistics Agency has launched an aggressive tender round across multiple metals to rebuild the national defense stockpile. As a result, US seeks critical minerals to grow stockpile faster than domestic production and import baselines can easily support.

The DLA’s new tenders cover cobalt, bismuth, high purity aluminum, scandium flake, niobium and ferro niobium. The agency also issued information requests for rhenium, indium, vanadium pentoxide, heavy rare earth oxides and tungsten ores. Together, these moves show how US seeks critical minerals to grow stockpile breadth across aerospace, electronics and defense applications.

DLA tenders stretch market capacity for critical minerals

Market participants say the requested quantities exceed typical US annual production and import volumes. Traders expect that the DLA will need several years to accumulate the requested tonnages. Therefore, the five year contract horizon may still prove tight for niche markets like rhenium and heavy rare earths.

Suppliers also question whether a single vendor can realistically deliver some of the larger packages. Rhenium sellers, for example, doubt that one producer can meet a 40 tonne requirement. Primary US rhenium output remains much lower than that figure, even before considering other customer commitments.

The DLA uses firm fixed price, indefinite delivery and indefinite quantity contracts for most of these tenders. This structure gives the agency flexibility on timing while locking in price and supply commitments. However, it also favours integrated producers and large suppliers rather than mid sized traders and niche intermediaries.

Policy push and strategic mineral reserve reshape US supply chains

Recent legislation and executive orders give political backing as US seeks critical minerals to grow stockpile strength. The administration has directed the defense secretary to ensure robust stockpile coverage for key materials. In parallel, Congress has allocated several billion dollars to stockpile upgrades and broader critical mineral supply chain support.

New public private initiatives now aim to operationalise this funding on the ground. Volato Group and M2i Global plan to develop and operate the first US strategic mineral reserve. With support from federal agencies, the project could become a central node for storage, logistics and market signaling.

For miners and processors, these policies create opportunities but also raise compliance and performance expectations. Long term stockpile contracts may help justify new projects or expansions in critical minerals. Yet the high bar on quality, security and reporting will likely limit participation to well capitalised and technically strong players.

The Metalnomist Commentary

The DLA’s tender wave confirms that stockpiling has returned as a core tool of industrial strategy. For market participants, the key questions now centre on pricing discipline, vendor concentration and delivery risk across thin markets. Companies that anticipate these shifts and secure upstream options early will gain a strategic edge in the next supply squeeze.

Peru Backs Saudi Arabia’s Rise as a Global Critical Minerals Hub

Saudi Arabia

US-led strategy to diversify global refining draws international support

Peru has expressed strong support for Saudi Arabia’s growing role in the global critical minerals industry, aligning with US efforts to reduce dependence on China. Speaking at the Munich Security Conference, Peru’s Foreign Minister Elmer Schialer called the US policy a "good strategy" to counter mineral supply monopolies and lower global processing costs.

The US has backed Saudi Arabia's ambitions to build a diversified critical minerals refining and processing hub. This aligns with broader Western goals to create alternatives to China, which currently controls around 90% of global mineral processing capacity.

Saudi Arabia boosts global capacity with Vision 2030 investments

Saudi Arabia’s Vision 2030 aims to reduce the kingdom’s dependence on oil by investing in strategic sectors, including mining and electric vehicles. In January, Riyadh announced a new $100 billion mineral investment plan, with $20 billion already in advanced development stages.

The Ministry of Industry and Mineral Resources also upgraded the estimated value of Saudi Arabia’s unexploited mineral reserves from $1.3 trillion to $2.5 trillion. These reserves include high-demand resources like copper, gold, bauxite, potash, and rare earths—key materials for clean energy and defense technologies.

Global alliances forming amid China’s tightening controls

China has tightened its export restrictions on critical mineral processing technologies, especially following trade tensions with the US. In response, countries like Saudi Arabia are being courted by Western governments to build alternative supply chains.

Peru’s endorsement of Saudi Arabia’s mineral ambitions reflects growing support for a multipolar critical minerals market. Schialer emphasized that having multiple global centers for mineral refining would lower production costs and improve economic resilience.

Saudi Aramco and Ma'aden, the kingdom’s state-controlled mining firm, also launched a joint venture to explore and extract energy transition minerals. These steps position Saudi Arabia as a potential key player in the future of global mineral security.

US Antimony Revenue Doubles as Critical Mineral Demand Surges

US Antimony

US Antimony Corporation achieved remarkable financial performance in the first quarter, with revenue more than doubling to $7 million compared to the same period last year. The mining and processing company's impressive growth reflects surging antimony prices and significant operational improvements across its North American facilities.

Strong Financial Performance Driven by Strategic Market Position

Antimony sales dominated the company's revenue stream, generating $5.9 million and accounting for approximately 84% of total quarterly revenue. This substantial increase transformed the company's financial outlook dramatically. Net income reached $546,524, a striking turnaround from the $322,768 loss recorded in the first quarter of 2023.

The company's success stems from its unique market position as the operator of North America's only two antimony smelters. This exclusive status provides US Antimony with significant competitive advantages in a market where antimony serves critical applications including flame retardants, military equipment, and lead-antimony alloys for batteries and cables.

Expansion Plans Signal Continued Growth Trajectory

US Antimony expects second quarter revenue to climb further following the April restart of its Madero smelter in Mexico. Meanwhile, the company announced ambitious expansion plans for its Montana facility, targeting a six-fold capacity increase to 300 tons per month. These operational enhancements position the company to capitalize on growing demand for this critical mineral.

Therefore, the company's strategic acquisitions continue to strengthen its supply chain. US Antimony plans to begin sourcing antimony ore from Alaska in the second quarter, following its $5.25 million acquisition of additional antimony mining claims in Alaska during January. This vertical integration strategy reduces supply chain risks while expanding production capabilities.

However, the company's smaller zeolite division remains a minor revenue contributor compared to its core antimony operations. As a result, US Antimony's growth strategy focuses primarily on expanding antimony production capacity and securing additional ore sources.

The Metalnomist Commentary

US Antimony's exceptional Q1 performance underscores the critical importance of domestic mineral processing capabilities amid global supply chain uncertainties. The company's monopolistic position in North American antimony smelting, combined with strategic capacity expansions, positions it to capitalize on sustained demand for this essential defense and industrial mineral.

US critical minerals list expands to 60 materials

US critical minerals

The US critical minerals list has expanded to 60 materials, reshaping policy for metals, energy and agriculture. The updated US critical minerals list now adds boron, copper, lead, metallurgical coal, phosphate, potash, rhenium, silicon, silver and uranium. As a result, the US critical minerals list will guide US industrial strategy, investment priorities and supply chain risk management for years.

Why the US critical minerals list matters for industry

The new list reflects rising concern over supply chain vulnerability and geopolitical risk. US law requires the US Geological Survey to review critical minerals every three years, based on domestic manufacturing needs and import exposure. This process now captures more metals with defence, clean energy and advanced manufacturing applications.

Government agencies played a decisive role in shaping the final list. The Department of Defense pushed to keep arsenic and tellurium, citing key national security uses. The Department of Energy backed metallurgical coal and uranium because of their importance for steel, power generation and defence. These decisions show how critical mineral policy is converging with broader security and industrial goals.

Boron’s inclusion highlights growing dependence on specialised inputs for steelmaking and high-tech uses. The US relies heavily on ferro-boron imports from China, creating a strategic vulnerability. By classifying boron as critical, policymakers can prioritise domestic projects, alternative suppliers and recycling pathways.

Agriculture, fertilizers and the critical minerals agenda

Fertilizer inputs now sit squarely inside the critical minerals framework. Phosphate and potash both entered the list, reflecting their central role in food security. Industry group The Fertilizer Institute welcomed the move, expecting clearer policy support for investment and capacity growth.

Phosphate’s addition is especially significant for US farmers. Market participants and officials had campaigned for its inclusion after the draft list omitted it. The US Department of Agriculture ultimately backed phosphate as a critical mineral because crop yields and global food stability depend on reliable, affordable supply.

As a result, fertilizer supply chains may see more targeted incentives, permitting support and risk monitoring. Recognising phosphate and potash as critical could reduce price volatility and import shocks, while encouraging long-term domestic production and storage strategies.

 

The Metalnomist Commentary

Washington’s broader US critical minerals list strategy now clearly reaches beyond battery metals into steel, energy and fertilizers. By aligning national security, climate policy and food security inside one critical minerals framework, the US is quietly redrawing the map of “strategic materials.” For miners, processors and recyclers, this list will increasingly shape where capital flows and which projects move fastest through the policy pipeline.