A Utah company says it has unearthed a massive deposit of minerals crucial for building electric vehicles, semiconductors, satellites, magnets, and more.
Ionic Minerals Technology, or Ionic MT, found its Silicon Ridge mine is chock-full of critical minerals and rare earth elements. According to Andre Zeitoun, Ionic MT’s CEO and founder, the newly discovered supply could support initiatives to electrify transportation and bolster defense, all while reducing dependence on foreign markets.
Silicon Ridge’s deposit of critical and rare earth minerals is suspended in clay, not hard rock, making it easier to extract. The clay holds 16 critical minerals, Zeitoun said, including gallium and germanium, used in electronics, fiber-optic cables, and lasers. The mine holds a large supply of halloysite, a mineral used to build better batteries. China by far produces the lion’s share of critical minerals, and when it recently restricted exports on them, U.S. companies were sent scrambling for new supplies.
“Over the last 20 years, [we’ve]... Read more
