Military Metals (CSE:MILI) suggests a recent agreement between the US and Ukraine signals a pivotal shift in US policy to source critical minerals from European partners.
On 30 April, both nations launched a first-of-its-kind partnership for the reconstruction and long-term economic success of Ukraine. The agreement represents the US taking an economic stake in Ukraine via its mineral resources, as well as provisions for oil, natural gas and other hydrocarbon resources.
Military Metals notes the agreement aligns with the broader geopolitical trend of reducing reliance on non-western sources for critical minerals — a priority for the US as it navigates global supply chain challenges and seeks to bolster economic and security partnerships in Europe.
Further, the nation’s strategic move underscores the growing importance of securing stable, western supply chains for essential resources like aluminium and graphite.
Aluminium and graphite are versatile metals used across the transportation, construction, technology and defence sectors. Due to aluminium’s lightweight yet robust nature and corrosion resistance, it is used in missiles, vehicles and naval vessels, while graphite’s high strength and thermal stability is used in artillery, tanks, ships, and ammunition.
CEO Scott Eldridge says the US appears to be focused on partnerships with European nations like Ukraine to secure the resources needed for advanced technologies and national defence.
“We see this as a transformative moment for the critical minerals sector,” Eldridge says.
“However, it leaves the US antimony deficit unresolved as Ukraine does not have any documented antimony deposits. While promising for other minerals, it does not solve the critical antimony shortage facing the US.
“Military Metals is well-positioned in western countries to support this shift, with our focus on developing high-quality mineral assets in stable jurisdictions.”
The US has been facing critical antimony shortages due to the reliance on imports from China and the lack of domestic production.
Military Metals has a portfolio of projects prospective for antimony including the Last Chance deposit in Nevada, which was first discovered in 1880. The company also owns the West Gore Project in Nova Scotia, Canada which was first discovered in 1883.
Write to Aaliyah Rogan at Mining.com.au
Images: Military Metals
