Stillwater Critical Minerals Signs MOU With US Strategic Metals
Stillwater Critical Minerals has signed a non-binding MOU with US Strategic Metals (USSM) to establish a strategic relationship for critical minerals-related business opportunities. The MOU includes potential collaboration on marketing support, technical support, supply chain development, offtake and logistics, strategic financing, and introducing additional strategic partners.
The partnership aims to accelerate engineering and metallurgical studies for the Stillwater West project, which is recognized as a significant domestic source of critical minerals in the USA. This collaboration aligns with both companies' ESG values and vision for a large-scale, low-carbon American critical mineral supply chain.
USSM, a private USA-focused critical minerals processing business, recently closed a $230 million debt financing and received an LOI from US EXIM Bank for a potential $400 million loan. The partnership is expected to advance relationships with OEMs, vehicle/battery manufacturers, major mining companies, and federal government agencies providing funding opportunities.
Stillwater Critical Minerals ha firmato un MOU non vincolante con US Strategic Metals (USSM) per stabilire una relazione strategica in relazione a opportunità di business legate ai minerali critici. L'MOU include una potenziale collaborazione nel supporto al marketing, supporto tecnico, sviluppo della catena di approvvigionamento, acquisto e logistica, finanziamento strategico e introduzione di ulteriori partner strategici.
La partnership mira ad accelerare gli studi ingegneristici e metallurgici per il progetto Stillwater West, che è riconosciuto come una significativa fonte domestica di minerali critici negli Stati Uniti. Questa collaborazione è in linea con i valori ESG e la visione di entrambe le aziende per una catena di approvvigionamento di minerali critici americana su larga scala e a basse emissioni di carbonio.
USSM, un'azienda privata focalizzata sul processamento di minerali critici negli Stati Uniti, ha recentemente chiuso un finanziamento in debito di 230 milioni di dollari e ha ricevuto una LOI dalla US EXIM Bank per un potenziale prestito di 400 milioni di dollari. Si prevede che la partnership avanzi le relazioni con OEM, produttori di veicoli/batterie, grandi aziende minerarie e agenzie federali che forniscono opportunità di finanziamento.
Stillwater Critical Minerals ha firmado un MOU no vinculante con US Strategic Metals (USSM) para establecer una relación estratégica para oportunidades de negocio relacionadas con minerales críticos. El MOU incluye una colaboración potencial en el apoyo al marketing, apoyo técnico, desarrollo de la cadena de suministro, compra y logística, financiación estratégica e introducción de socios estratégicos adicionales.
La asociación tiene como objetivo acelerar los estudios de ingeniería y metalúrgicos para el proyecto Stillwater West, que es reconocido como una fuente significativa de minerales críticos en los EE. UU. Esta colaboración se alinea con los valores ESG y la visión de ambas compañías para una cadena de suministro de minerales críticos de bajos carbono a gran escala en América.
USSM, una empresa privada enfocada en el procesamiento de minerales críticos en EE. UU., cerró recientemente un financiamiento por deuda de 230 millones de dólares y recibió una LOI del US EXIM Bank para un préstamo potencial de 400 millones de dólares. Se espera que la asociación avance en las relaciones con OEMs, fabricantes de vehículos/baterías, grandes empresas mineras y agencias gubernamentales federales que ofrecen oportunidades de financiamiento.
스틸워터 크리티컬 미네랄즈(Stillwater Critical Minerals)가 미국 전략 광물(US Strategic Metals, USSM)과 비구속적인 MOU를 체결했습니다. 이 MOU는 필수 광물 관련 사업 기회를 위한 전략적 관계를 구축하기 위한 것입니다. MOU에는 마케팅 지원, 기술 지원, 공급망 개발, 오프테이크 및 물류, 전략적 자금 조달 및 추가 전략적 파트너 도입을 위한 잠재적 협력이 포함됩니다.
이 파트너십의 목표는 미국의 중요한 국내 자원으로 인정받고 있는 스틸워터 웨스트 프로젝트(Stillwater West project)를 위한 공학 및 야금 연구를 가속화하는 것입니다. 이 협력은 두 회사의 ESG 가치와 대규모 저탄소 미국 필수 광물 공급망에 대한 비전과 일치합니다.
USSM은 미국에 중점을 둔 민간 필수 광물 가공업체로, 최근 2억 3천만 달러의 부채 자금을 마감했으며, 미국 수출입 은행(US EXIM Bank)으로부터 4억 달러의 대출 가능성에 대한 LOI를 받았습니다. 이 파트너십은 OEM, 차량/배터리 제조업체, 주요 광산 회사 및 자금 지원 기회를 제공하는 연방 정부 기관과의 관계를 발전시키는 것으로 예상됩니다.
Stillwater Critical Minerals a signé un MOU non contraignant avec US Strategic Metals (USSM) pour établir une relation stratégique en vue d'opportunités commerciales liées aux minéraux critiques. Le MOU inclut une collaboration potentielle sur le soutien au marketing, le soutien technique, le développement de la chaîne d'approvisionnement, l'achat et la logistique, le financement stratégique et l'introduction de partenaires stratégiques supplémentaires.
Ce partenariat vise à accélérer les études d'ingénierie et de métallurgie pour le projet Stillwater West, qui est reconnu comme une source domestique significative de minéraux critiques aux États-Unis. Cette collaboration est en adéquation avec les valeurs ESG et la vision des deux entreprises pour une chaîne d'approvisionnement de minéraux critiques à grande échelle, à faible carbone aux États-Unis.
USSM, une entreprise privée axée sur le traitement des minéraux critiques aux États-Unis, a récemment clôturé un financement par emprunt de 230 millions de dollars et a reçu un LOI de la US EXIM Bank pour un prêt potentiel de 400 millions de dollars. Il est prévu que le partenariat fasse progresser les relations avec les OEM, les fabricants de véhicules/batteries, les grandes entreprises minières et les agences gouvernementales fédérales offrant des opportunités de financement.
Stillwater Critical Minerals hat ein unverbindliches MOU mit US Strategic Metals (USSM) unterzeichnet, um eine strategische Beziehung für geschäftliche Chancen im Bereich kritische Mineralien aufzubauen. Das MOU umfasst potenzielle Zusammenarbeit im Marketing, technische Unterstützung, Entwicklung von Lieferketten, Abnahme und Logistik, strategische Finanzierung sowie die Einführung weiterer strategischer Partner.
Das Partnerschaftsprojekt zielt darauf ab, Ingenieur- und Metallurgiestudien für das Stillwater West Projekt, das als bedeutende inländische Quelle kritischer Mineralien in den USA anerkannt ist, zu beschleunigen. Diese Zusammenarbeit entspricht den ESG-Werten und der Vision beider Unternehmen für eine groß angelegte, kohlenstoffarme amerikanische Lieferkette für kritische Mineralien.
USSM, ein privat geführtes Unternehmen zur Verarbeitung kritischer Mineralien mit Schwerpunkt USA, hat kürzlich eine Fremdfinanzierung in Höhe von 230 Millionen Dollar abgeschlossen und ein LOI von der US EXIM Bank für ein potenzielles Darlehen über 400 Millionen Dollar erhalten. Es wird erwartet, dass die Partnerschaft die Beziehungen zu OEMs, Fahrzeug/Batterieherstellern, großen Bergbauunternehmen und Bundesbehörden, die Finanzierungsmöglichkeiten bieten, vorantreibt.
- Strategic partnership with US Strategic Metals for critical minerals opportunities
- Potential acceleration of engineering and metallurgical studies for Stillwater West project
- Alignment with government initiatives for domestic critical mineral supply
- Possible access to strategic financing and technical support from USSM
- Expanded relationships with OEMs, manufacturers, and government agencies
- Non-binding nature of the MOU, indicating no firm commitments
- Dependence on future government funding and support
- Potential dilution if strategic financing involves equity investment
VANCOUVER, BC / ACCESSWIRE / October 9, 2024 / Stillwater Critical Minerals Corp. (TSXV:PGE)(OTCQB:PGEZF)(FSE:J0G) (the "Company" or "Stillwater") is pleased to announce that it has signed a comprehensive, non-binding Memorandum of Understanding ("MOU") with US Strategic Metals ("USSM") for the establishment of a strategic relationship to consider a range of critical minerals-related business opportunities. The MOU reflects the strong alignment in corporate values between the parties, recognizing both the significance of Stillwater West to the USA and the development of the green economy, as well as USSM's position as a burgeoning leader in US critical minerals production.
The MOU includes, but is not limited to, opportunities related to:
Marketing support, including lobbying collaboration with particular reference to US government bodies including the Department of Energy and the Department of Defense;
Technical support including metallurgical and mineral processing development;
Supply chain development;
Offtake and logistics;
Potential strategic financing, including an equity or debt investment in Stillwater; and
Collaborating on the introduction of additional strategic partners as deemed necessary for the advancement of one or both of Stillwater or USSM.
Stillwater Critical Minerals President and CEO, Michael Rowley, stated, "Stillwater West is a special asset and almost entirely unique in the United States at a time when all stakeholders, from the federal government to industry and investors, recognize the overwhelming need for domestic supplies of the very critical minerals this project hosts. We have built a world-class team that includes Glencore at both an equity and management level and are pleased to be aligning ourselves with another very high-quality strategic partner like USSM to continue to advance this world-class project.
This MOU has the potential to accelerate necessary engineering and metallurgical studies and is an excellent follow-on to our expanding base of government grant funding and partnerships with the US Geological Survey, Cornell University, and Lawrence Berkeley National Laboratory for CO2 sequestration, hydrogen production, and hydrometallurgical studies. This MOU also reflects our broad alignment on ESG values and a shared vision for a large-scale, low-carbon American critical mineral supply chain based in an iconic and famously metal-rich US mining district that has produced critical minerals for over a century. In addition to our mutual connection with top-tier global miner Glencore, 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."
US Strategic Metals CEO, Stacy Hastie, stated, "USSM is a private, USA focused, critical minerals processing business based in Missouri. The company is building a large critical metal supply chain, providing reliable, traceable and conflict-free battery metals to the USA. USSM aims to significantly expand production in the coming years and, as such, is successfully developing relationships with raw materials suppliers to allow it to meet rapidly growing critical metal demand. Stillwater West fits this mandate extremely well, for its scale, grade and suite of critical minerals, nearly all of which the US is heavily reliant upon imports. 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 US government's mandate on securing domestic supply of these materials as well as USSM's internal expansion mandates.
Our company is managed by an impressive leadership team and also benefits from a long-term global marketing and offtake relationship with global commodities and critical minerals leader, Glencore plc. USSM recently closed a
We have strong backers who are aligned with our team's goal to expand into one of North America's largest and most important fully integrated producers of key battery and strategic metals with full supply chain from exploration to production all based within the United States. In particular, the dearth of nickel and cobalt assets within the US has forced an expanded definition of domestic to include Canada and Australia, but we would expect projects located within the US to be prioritized for funding and support. That puts both USSM and Stillwater Critical Minerals in good stead in terms of development of growth pathways. With USSM's natural advantages like our domestic resource endowment, fully permitted operation on private land, robust community benefits plan and perfectly centralized location to access major OEMs and defense contractors, USSM is the perfect domestic partner to handle high quality critical mineral feeds like those that will be produced by Stillwater."
Upcoming Events
Stillwater Critical Minerals President and CEO, Michael Rowley, will be presenting at the following events:
Red Cloud Fall Mining Showcase - Toronto, ON, October 16-17. To register, click here.
Commodities Global Expo 2024 - Fort Lauderdale, FLA, October 20-21. For more information and registration, click here.
Precious Metals Summit - Zurich, CH, November 11-12, 2024. For more information, click here.
121 Mining Events - London, UK, November 14-15. For more information, click here.
About Stillwater Critical Minerals
Stillwater Critical Minerals (TSXV:PGE)(OTCQB:PGEZF)(FSE:J0G) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore plc, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West with the largest nickel resource in an active US mining district as part of a compelling suite of nine minerals now listed as critical in the USA. To date, five Platreef-style nickel and copper sulphide deposits host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold at Stillwater West. All of these deposits remain open for expansion along trend and at depth.
Stillwater also holds the high-grade Black Lake-Drayton Gold project adjacent to Nexgold Mining's development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
About US Strategic Metals
USSM is a St Louis, Missouri, US-based critical minerals company. Its state of-the-art metallurgical plant will process cobalt hydroxide, recycled metals from lithium-ion batteries as well as other third-party feeds. USSM is a vertically integrated battery metals platform that will be the first domestic producer of cobalt and nickel sulfates in the United States. USSM's unique strengths make it a global market leader in reliable, ethically sourced, and environmentally friendly strategic metals for US and global markets. Its flexible flow sheet will enable it to supply the associated metals, intermediate products and salts which are required for the clean energy transition and other US strategic needs.
USSM is focused on building a dynamic and sustainable business with an emphasis on applying leading environmental stewardship, social engagement, and corporate governance practices to its strategy.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley, President, CEO & Director - Stillwater Critical Minerals
Email: info@criticalminerals.com Phone: (604) 357 4790
Web: http://criticalminerals.com Toll Free: (888) 432 0075
Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Stillwater Critical Minerals Corp.
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FAQ
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