Experts in the critical minerals sector are raising concerns about the potential global repercussions of China’s recent changes to its export controls. These adjustments, which directly impact the tungsten market, are being interpreted as a possible signal of further restrictive measures. According to a recent report by the Federation of American Scientists, the United States will need to significantly increase its use of critical minerals—by tenfold—to meet its clean energy goals.
In response to these concerns, mining companies are ramping up efforts to enhance the competitiveness of non-Chinese sources of critical minerals. Companies such as Troy Minerals Inc., United States Antimony Corporation, Perpetua Resources Corp., Electra Battery Materials Corporation and MP Materials Corp. are leading these initiatives.
Earlier this year, Canada added silicon metal to its critical minerals list, following a Nature article highlighting the need to reshore silicon photovoltaic manufacturing to support decarbonization efforts. To address the growing demand for high-purity silica, Troy Minerals Inc. completed a strategic acquisition of CBGB Ventures, which includes two key silica assets: the Table Mountain Silica Project in British Columbia and a potential 80% equity interest in the Tsagaan Zalaa Silica Project in Mongolia. Troy Minerals plans to leverage these assets to establish itself as a leader in the high-purity quartz silica industry.
Additionally, Troy Minerals is advancing its critical mineral projects in Canada and the U.S., including the Lac Jacques Project in Quebec and the Lake Owen Project in Wyoming, which focuses on vanadium, titanium, and platinum group elements.
USAC is also expanding its strategic mineral reserves, recently acquiring 69 Alaska mining claims. The company is particularly interested in a quartz vein with high copper values, as copper is listed on the U.S. Department of Energy’s Critical Minerals List. USAC views the Alaskan properties as a significant opportunity for environmentally responsible development.
Perpetua Resources Corp. is focused on antimony through its Stibnite Gold Project, aiming to provide a domestic source of this critical mineral. The company has received significant interest from the Export-Import Bank of the United States and is advancing its project through the permitting process.
Electra Battery Materials Corporation is addressing the need for cobalt with its development of North America’s only cobalt sulfate refinery. Electra’s participation in Indonesia’s critical minerals conference highlights its commitment to sustainable supply chains and increasing processing capacity for battery materials.
MP Materials Corp. operates the only scaled rare earth production facility in the U.S. at Mountain Pass. The company reported a significant increase in NdPr production and anticipates further growth in the coming quarters. MP Materials is also fulfilling a supply contract with the U.S. Department of Defense.
As the global critical minerals landscape evolves, these companies are working to bolster alternative supply chains and reduce dependency on Chinese sources, aiming to secure a stable and sustainable future for the critical minerals sector.
