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Mineral-rich mining districts should be the focus of any initiative to accelerate domestic production of critical minerals in the US and promote supply security.
“Globally, countries are recognizing critical minerals now and the US – relatively late to that party – have woken up very quickly (with) $2.8 billion in recent funding to secure domestic supplies… They’re recognizing the great majority of the listed (critical) minerals … are sourced overseas, and there’s exposure in that. In fact, China and Russia, these countries that can no longer be assumed to be friendly – let’s put it that way – are the majority of supply,” said Michael Rowley, CEO of Stillwater Critical Minerals (TSXV:PGE).
Stillwater Critical Minerals is a Canadian mineral exploration company focused on developing its Stillwater West PGE, nickel, copper, cobalt and gold project in the Stillwater mining district in Montana, USA.
“The US has great geology, especially where we are. And there’s good reason to advance those domestically,” Rowley said.
Montana’s Stillwater District has one of the world’s largest and highest-grade PGE, nickel and copper deposits. The company’s Stillwater West PGE-Ni-Cu Project consists of 14 multi-kilometer-scale exploration target areas along a 32-km strike length adjoining and adjacent to Sibanye-Stillwater’s high-grade Stillwater mines in the Stillwater igneous complex of Montana
“(There are) 100 million ounces already there in our neighbors’ deposits. And then the ability to fast track a mine, there are three mines and a smelter already in our district, and our ground was producing 100 years ago. So this is a place (where) you can accelerate production. Our neighbor is actually mining underground about two kilometers away from us. So if you really want to fast track, this is a district that you can look at,” said Rowley.
The chief executive did acknowledge developing a mine into full production takes time, and his company is now “just beginning that Lassonde Curve” of adding value in the mining stocks.
“We debuted our first resource a year ago – 1.1 billion lbs nickel, copper, cobalt, 2.4 million ounces of platinum group metals, gold. We’ve got a healthy increase to that already essentially done, and in the works now for finalization,” he said.
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.