Current U.S. Production Will Not Meet the Demand of Trump’s Infrastructure Initiative
Boise, Idaho–(Newsfile Corp. – February 15, 2018) – Idaho CuMo Mining Corporation launches a public affairs campaign to add molybdenum, a strategic mineral, to Critical Minerals of the United States issued by U.S. Geological Survey (USGS).
“Few minerals are more appropriate for this list than molybdenum,” said Shaun Dykes, President and CEO of Idaho CuMo Mining Corporation. “Moly innovations are driving critical advancements in medical, technological, and renewable energy research that may become major economic drivers and matters of national security for the U.S.”
The Executive Order on a Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals signed by President Trump on December 20, 2017, mandates that the Secretary of the Interior, Secretary of Defense, and other relevant agencies publish an updated list of critical minerals by the end of February 2018. The annual report provides a list of mineral commodities identified to have “important uses and no viable substitutes, yet face potential disruption in supply, are defined as critical to the Nation’s economic and national security” according to USGS.
Molybdenum is a strategic mineral that markedly increases the strength, heat and corrosion resistance, and durability of stainless steel products which will be utilized in many of the projects identified by the Trump Administration’s $1.5 trillion infrastructure initiative. More molybdenum than the U.S. currently produces will be needed for building new pipelines, replacing crumbling bridges, transforming railways and girding up tunnels that are critical to transportation, commerce and safety. Molybdenum-enhanced steel requires 90 pounds for every ton of steel. For comparison, the Keystone Pipeline required 866,000 tons of steel.
The U.S. is 100 percent dependent on foreign sources for 20 strategic minerals which make industries that are key to economic growth and matters of national security vulnerable to supply chain disruption. China controls of 56 percent of the world’s molybdenum compared to 18 percent controlled by the U.S. Furthermore, Chinese molybdenum producers operate archaic and environmentally compromising facilities that are expected to be shut down by the government until they comply with environmental standards. An action that could tighten China’s grip on molybdenum in the near term.
“USGS has stated that there is little substitution of molybdenum in its major applications and National Mining Association recognized molybdenum as vital to the foundation of our infrastructure which matches the criteria that USGS established for the list,” said Dykes. “When you add in a potential supply chain disruption, it is simple. Molybdenum must be added to the critical minerals list.”
Along with U.S. infrastructure needs, molybdenum is advancing research for many industries. Recent research has demonstrated that a combination of molybdenum and graphene/graphite improves energy capacity, increases lifespan, and decreases recharge times in lithium-ion batteries. Lawrence Berkeley National Laboratory announced ground-breaking advancements in its long-term x-ray technology research which integrates a “specially coated and polished slug of molybdenum” to increase x-ray pulses from 120 pulses per second to one million pulses per second to produce atomic- and molecular-scale “movies”. Research from the National University of Singapore establishes molybdenum as the first viable alternative to silicon for next-generation, two-dimensional semiconductors.
ICMC has established a Critical Minerals page on the CuMo Project website and is taking the matter directly to decision makers through lobbying efforts, constituent correspondence and other strategic communications.
“We encourage folks to visit the website to learn more about the effort to have molybdenum added to the list and how to engage in the lobbying process,” said Dykes.
About CuMo Project
The CuMo Project is a scientific exploration of the largest molybdenum deposit and one of the top 25 silver deposits in the world. CuMo is located in a historic mining district in Boise County, Idaho. American CuMo Mining Corporation (CuMoCo) acquired the claims in 2004. CuMoCo established Idaho CuMo Mining Corporation (ICMC), an Idaho-based, wholly-owned subsidiary, to manage the geologic and environmental exploration that will determine the future development plan.
About Idaho CuMo Mining Corporation
Idaho CuMo Mining Corporation (ICMC) is the wholly-owned subsidiary of American CuMo Mining Corporation, a Canadian natural resource exploration and development company. ICMC is committed to conducting all exploration and development activities, present and future, in a manner that ensures a minimal impact on the environment. Every decision made by the development team is focused on designing an environmentally sound and socially responsible project. Currently, ICMC is advancing the CuMo Project in Boise County, Idaho and Calida Gold project in Lemhi County, Idaho. For more information, please visit idahocumo.com.
About American CuMo Mining Corporation
American CuMo Mining Corporation (CuMoCo) is focused on advancing its CuMo Project towards feasibility. CuMoCo is also advancing its newly-acquired Calida Gold project. Management is continuing to build an even stronger foundation from which to move the Company and its projects forward. For more information, please visit cumoco.com, idahocumo.com and cumoproject.com.
Noelle Laury | 208.602.3423 | [email protected]