I sit down with Nikhil Gupta, founder and CEO of Determinant Materials, to talk about the metal refining process he’s invented to help bring back critical supply chains to America.
We discuss China’s metal refining monopoly, the need for innovation in the space, Nikhil’s vision for a refining-as-a-service model, and why silver is the next metal people will be talking about.
Enjoy.
Recording date: September 15, 2026
Chapters:
00:00 Introduction
02:44 Mining vs. Refining
05:46 $200 Billion Investment From The US Government
08:09 What Is Determinant Materials?
10:24 Role Of Feedstocks In Metal Processing
11:54 How Determinant’s Refining Process Is Different
17:16 Rare Earths vs. Precious Metals
21:19 Determinant’s Initial Focus
25:01 Deeper Dive Into Determinant’s Refining Process
29:37 Unit Economics In Metal Refining
31:49 Refining As A Service Model
37:47 Determinant Materials Team
41:43 Role Of Government In Industrial Policy
50:43 Rapid Fire
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Connect with Nikhil Gupta:
* Determinant Materials: https://www.determinantmaterials.com/
* X / Twitter: https://x.com/nrg91720
* LinkedIn: https://www.linkedin.com/in/nikhilrgupta/
Remember to go direct!
Jordan
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