Stillwater Crucial Minerals (TSXV:PGE,OTCQB:PGEZF) has signed a non-binding memorandum of understanding (MOU) with private firm US Strategic Metals (USSM) to discover potential enterprise alternatives inside the crucial metals sector.
The MOU outlines a broad vary of potential collaborations, a few of which embody advertising and marketing efforts, technical help and provide chain growth for crucial minerals, together with nickel, cobalt and different metals important to the manufacturing of electrical automobile (EV) batteries and renewable power applied sciences.
The MOU additionally explores potential offtake agreements, logistics collaboration and financing alternatives.
The businesses intend to work collectively in advocating for presidency help, notably from US authorities businesses such because the Division of Power and the Division of Protection.
USSM CEO Stacy Hastie described the Stillwater Crucial Minerals partnership as a key transfer in constructing in direction of a sturdy crucial steel provide chain geared in direction of future enlargement. Each corporations additionally highlighted their partnerships with world miner Glencore (LSE:GLEN,OTC Pink:GLCNF).
“Now we have sturdy backers who’re aligned with our workforce’s purpose to develop into considered one of North America’s largest and most essential absolutely built-in producers of key battery and strategic metals with a full provide chain from exploration to manufacturing all based mostly inside the USA,” Hastie added within the firm’s assertion on October 10.
He additionally added that Stillwater’s Stillwater West challenge, which is a possible supply of at the very least eight crucial minerals, aligns with the nationwide mandate of the US authorities to bolster home manufacturing of the useful resource.
The Montana-based explorer operates within the Stillwater mining district, identified for its wealthy deposits of nickel, platinum, palladium and different minerals. The Stillwater West challenge has been acknowledged as one of many largest undeveloped sources of crucial minerals within the US.
As for USSM, the corporate’s plant will course of recycled battery metals and feed from third events to provide battery grade supplies for the home provide chain. It’s also growing a major cobalt deposit.
As the worldwide demand for EVs and renewable power techniques rises, corporations and states alike are in a race to cut back reliance on imports and safe steady provides for the power transition.
Each corporations anticipate that the partnership may place them favorably for federal authorities funding alternatives.
Not too long ago, the US authorities has allotted important sources to help home crucial minerals manufacturing, primarily in favor of build up industries like clear power, superior protection techniques and shopper electronics.
Stillwater has already acquired help from a number of federal businesses in conducting analysis into carbon sequestration and different inexperienced applied sciences.
Equally, the MOU with USSM could additional improve the corporate’s eligibility for added authorities grants and partnerships.
Don’t neglect to observe us @INN_Resource for real-time information updates!
Securities Disclosure: I, Giann Liguid, maintain no direct funding curiosity in any firm talked about on this article.
