A Utah company has discovered a massive deposit of critical minerals in Silicon Ridge, Utah, including germanium and gallium. The geological system makes extraction easier than traditional methods. The project already has permits and a processing facility in place for rapid development.

The United States discovered a large lithium reserve in the Smackover Formation, estimated to contain 5-19 million tons of lithium. This find could meet current U.S. lithium consumption needs. The U.S. government is actively investing in rare earth companies to secure a domestic supply chain and reduce reliance on China.

Ionic MT aims to fast-track the development of its rare earth elements discovery, aligning with the Trump administration’s strategy to secure a domestic rare earth supply chain. The U.S. government has made significant investments in various companies along the rare earth supply chain, including loans and equity positions.

The U.S. government continues to invest in rare earth companies, including purchasing equity stakes in Trilogy Metals and Lithium Americas Corp. The government also finalized a deal with Vulcan Elements for a $620 million loan to boost domestic magnet production, aligning with efforts to secure critical mineral supply chains.

The U.S. Department of Defense has issued a $620 million loan to Vulcan Elements for a major deal to enhance domestic magnet production. This loan, the largest from the Pentagon’s Office of Strategic Capital, aims to build a 10,000-tonne magnet facility, with the DOD receiving warrants in the company.

Read more at Yahoo Finance: Large Critical Minerals Deposit Discovered In Utah