US closer to unlocking critical minerals cache

The US Government has expedited permitting for several proposed mining projects across the country as the nation strives to gain independence in the critical mineral circuit.

One of the world’s most significant undeveloped copper deposits, the Resolution copper project, is getting a green light for fast-tracking.

The joint venture between Rio Tinto (ASX: RIO) and BHP (ASX: BHP), 45% and 55% owned respectively, is anticipated to be the largest copper mine in North America.

The proposed underground mine has the potential to meet up to 25% of the US copper annual demand once operational, producing nearly 20Mt of copper over its anticipated 40-year life.

Rio and BHP have been in the process of permitting the mine since 2013 and continue to advance partnerships with stakeholders and the local community.

The fast-tracking initiative is part of the US’ broader effort to increase domestic critical mineral production and in turn reduce reliance on foreign supply chains.

The initiative is enabling a public permitting dashboard that will allow stakeholders to remain in the know during the permitting process and clearly show where the project stands during review . The increased transparency is expected to lead to greater accountability that ensures a more efficient process.

Also amongst the first wave of expedited critical mineral projects is the McDermitt lithium project owned by Australian-based Jindalee Lithium (ASX: JLL).

The project, located in Oregon, has an MRE of 21.5Mt of lithium carbon equivalent (LCE) and has the potential to materially change US lithium supply dynamics.

Jindalee’s chief executive Ian Rodger said that being included among the first ten FAST-41 projects reinforces the projects’ strategic importance to mineral security.

“Inclusion on the federal permitting dashboard highlights our project’s national significance, offering greater transparency and federal support to advance our exploration plan of operations (EPO),” he said.

“Once approved the EPO will allow further on-site activity, including drilling to provide additional geological and environmental data, as well as fresh samples for geotechnical studies and further metallurgical test work.

“Jindalee remains committed to developing McDermitt transparently and responsibly, collaborating closely with federal and state agencies to realise this critical U.S. lithium asset’s full potential.”

The Stibnite gold project, located in Idaho, is another project named in the first wave. Stibnite, once operational, will be the country’s only domestic producer of antimony and has the potential to meet 35% of the country’s demand for the critical mineral.

Others amongst the FAST-41 projects include Warrior Met coal mines, South West Arkansas project, Caldwell Canyon mine, Libby exploration project, Libson Valley copper project, Silver Peak lithium mine and Michigan potash.