As the US plays catch-up in developing domestic production of critical metals, mineral-rich districts with established infrastructure will be crucial in accelerating these efforts, said Stillwater Critical Minerals CEO Michael Rowley.
Stillwater District Can Accelerate Domestic Production of Critical Minerals, CEO saysyoutu.be
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 — has woken up very quickly (with) US$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 platinum-group elements (PGEs), nickel, copper, cobalt and gold project in the Stillwater mining district in Montana, US.
“The US has great geology, especially where we are," Rowley said. "And there's good reason to advance those domestically."
Montana’s Stillwater district has one of the world’s largest and highest-grade PGEs, nickel and copper deposits, and the company’s Stillwater West project in the area consists of 14 multi-kilometer-scale exploration target areas along a 32 kilometer strike length. The project adjoins and is adjacent to Sibanye-Stillwater’s (NYSE:SBSW) 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 2 kilometers away from us. So if you really want to fast track, this is a district that you can look at,” Rowley said.
The chief executive did acknowledge that developing a mine into full production takes time, and his company is now “just beginning that Lassonde Curve” of adding value.
“We debuted our first resource a year ago — 1.1 billion pounds of nickel, copper, cobalt, 2.4 million ounces of PGEs, gold. We've got a healthy increase to that already essentially done, and in the works now for finalization,” he said.
Watch the full interview with Michael Rowley, CEO of Stillwater Critical Minerals.
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