Source: Streetwise Reports 10/09/2024
Stillwater Critical Minerals Corp. (OTC: PGEZF) has signed a non-binding Memorandum of Understanding (MOU) with US Strategic Metals (USSM) to explore collaboration in critical minerals development. This MOU outlines possible areas of cooperation, including marketing and lobbying efforts focused on key U.S. agencies, such as the Department of Energy and the Department of Defense, from which SWCM has been actively pursuing grants and other federal funding. The companies may work together on metallurgical and mineral processing technology, supply chain establishment, and logistical support. Additionally, this agreement considers the potential for strategic financing via equity or debt investments.
Stillwater's President and CEO, Michael Rowley, emphasized the strategic importance of Stillwater West in the company news release. "We are pleased to be aligning with another high-quality partner like USSM to advance this project," said Rowley. He further highlighted the companies' mutual connection with Glencore and noted, "We expect this collaboration will further advance our mutual relationships with OEMs, vehicle/battery manufacturers, major mining companies and, perhaps most importantly in the near term, federal government agencies and legislators providing funding opportunities."
USSM's CEO Stacy Hastie expressed that Stillwater West fits well with USSM's mission to secure a domestic critical minerals supply chain. Hastie explained in the press release, "Stillwater West is clearly one of the most important potential future sources of at least eight critical minerals, and its development is perfectly in line with the U.S. government's mandate on securing domestic supply of these materials as well as USSM's internal expansion mandates."
Looking Into Critical Minerals
Cobalt is a critical mineral that has become increasingly valuable as the demand for electric vehicles (EVs) rises. According to Investing News Network on September 17, cobalt's essential role in "lithium-ion battery cathodes" remains a driving force behind its increased relevance. The report explains how, with the shift toward electrification, cobalt serves as a primary component in the battery sector.
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