The Energy Department yesterday announced it is proposing nearly $1 billion in funding to speed the development of U.S. critical minerals and materials. The department intends to offer funding for mining, processing and manufacturing technologies in the critical minerals and materials supply chains. The four categories for notices of funding opportunities include:
Critical Minerals and Materials Accelerator,
Mines & Metals Capacity Expansion – Piloting Byproduct Critical Minerals and Materials Recovery at Domestic Industrial Facilities
Rare Earth Elements Demonstration Facility and
Battery Materials Processing and Battery Manufacturing and Recycling Grant Program
It's big news for Hudbay, which yesterday announced an agreement with Mitsubishi to sell a minority stake in in its Arizona based Copper World project. The partnership will provide the essential capital to advance Copper World's development to full production and facilitate the creation of thousands of U.S. jobs. The project has all required state-level permits in hand, its feasibility study underway, and is actively engaged with contractors and local unions to prepare for construction.
And, a statement to Pakistani media, Secretary of State Marco Rubio said Washington is looking forward to working with Pakistan on critical minerals. Washington and Islamabad reached a trade deal last month, and Pakistan's Commerce Minister has said Islamabad will offer U.S. businesses opportunities to invest in mining projects through joint ventures with local companies, providing concessions such as lease grants.
That's your mining minute for this morning, highlighting some of the mining-related matters that are on our minds here in Washington and beyond.
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