(2023, September 13) US DoD grants $110m to Albemarle and Talon for critical mineral production.
Retrieved January 28, 2024,
from US DoD grants $110m for critical mineral production (mining-technology.com)
The United States DoD is providing over $110 million to Albemarle and Talon to mine critical minerals like lithium and nickel in the United states. Albemarle will buy mining equipment with its grants to restart a lithium mine in King mountain, expected to restart in 2026. DoD funding to Talin will expand their mining equipment and staff, alongside aiding in the discovery of nickel deposits. All of this funding will go to defense platforms and green energy systems.
Government funding for mining companies is a necessary step in the pursuit of green energy. Mining companies have a hard time stepping up mines in the US with regulations and public opposition. The mining industry will need to be subsidized as an incentive to start domestic mining operations. As the world becomes more and more reliant on electronics and green energy systems, the demand for minerals will grow and grow. Domestic production will need to start to keep pace with future growth in demand. The DoD’s funding should be a first step towards more government funding in the domestic mining industry.