US Military Invests $15 Million in Canadian Mineral Projects To Secure Critical Resources
Portfolio Pulse from Stjepan Kalinic
The U.S. military has allocated $15 million to fund Canadian mineral projects, focusing on essential resources like copper, gold, graphite, and cobalt. This investment aims to reduce dependency on China and secure a stable supply chain for critical minerals. Lomiko Metals Inc. (OTCQB:LMRMF) and Fortune Minerals Ltd (OTCQB:FTMDF) are among the grant recipients. Additionally, South32's Hermosa project in Arizona received $20 million to boost manganese production.
May 27, 2024 | 4:17 pm
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Fortune Minerals Ltd (OTCQB:FTMDF) plans to mine and process critical minerals in Canada with the help of a U.S. military grant.
The grant will enable Fortune Minerals to establish a North American supply chain for critical minerals, reducing dependency on foreign facilities and likely boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Lomiko Metals Inc. (OTCQB:LMRMF) received a grant from the U.S. military to advance its graphite project, aiming to break ground between 2027 and 2029.
The grant will help Lomiko Metals advance its graphite project, which is crucial for EV batteries and military equipment, likely boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
South32's Hermosa project in Arizona received $20 million from the Pentagon to boost manganese production, essential for batteries.
The $20 million award will help South32 increase manganese production, which is essential for battery manufacturing, likely boosting investor confidence.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70