US Strategic Metals announces partnership. Raw materials will come from regional sources, while processed products are intended for the U.S. and its allies.
US Strategic Metals (USSM) plans to produce critical minerals such as cobalt, nickel, lithium, copper, and rare earth elements using its proprietary technology. The raw materials will come from the company’s own mine in the U.S. state of Missouri.
Now, USSM’s refining technology is set to be deployed in Saudi Arabia, where a corresponding facility is planned. The project is based on an agreement with the National Industrial Development Center (NIDC), a government agency under Saudi Arabia’s Ministry of Industry and Mineral Resources that promotes investment in the country.
According to USSM, the plan is to process raw materials from regional sources such as Africa and Pakistan, with the finished products destined for the U.S. and its allies.
The agreement also includes the use of Ionic Rare Earth’s rare earth magnet recycling processes, with which USSM has recently formed a collaboration.
Saudi Arabia Positions Itself as a Hub for Critical Mineral Processing
The partnership between USSM and NIDC was signed last week at the Future Minerals Forum in Riyadh, Saudi Arabia’s capital, now an important industry event. The kingdom aims to diversify its economy, which has so far been largely dependent on oil and gas exports, and place a stronger emphasis on critical minerals. This includes developing its own mineral resources as well as investing in the processing of imported materials.
The number of such partnerships is growing. Just last week, the U.S. mining company Critical Metals Corp. announced plans to process rare earths from Greenland in Saudi Arabia. In November, the state-owned Saudi mining company Ma‘aden and MP Materials, the largest U.S. producer of rare earths, revealed plans for a joint refinery. Shortly before that, the U.S. and Saudi Arabia agreed to deepen their cooperation on critical minerals.
Photo: iStock/MOHAMED HUSSAIN YOUNIS