- The push for developing a secure domestic supply of critical minerals is growing as U.S. dependence on mineral imports and foreign processing is reaching alarming levels
- Critical minerals are essential for advanced technologies that are the basis for the country’s high-tech digital economy and advanced military
- Arizona Metals boasts a high-grade, historic resource in Arizona – one of the world’s most attractive mining jurisdictions
A mineral exploration company engaged in advancing precious and base metal deposits, Arizona Metals (TSX: AMC) (OTCQX: AZMCF) is set out to benefit as North American metals projects appear to be experiencing a renaissance as the 1950 Defense Production Act, intended to support the nation’s supply of domestically-sourced critical minerals, gave a boost to the sector. But, as it turns out, not all exploration projects are created equal. Due to the prolonged metals and mining permitting processes involving many stakeholders, it can often take 7 to 10 years to complete the process in the U.S., making it one of the longest in the world (https://nnw.fm/jnuyX). Apparently, not in Arizona.
“If you’re looking for a stable jurisdiction with a long history of mining copper, it’s Arizona” – these are the words that Marc Pais, the President and CEO of Arizona Metals Corp. used in a recent interview for Mining Journal when he described how the company chose potential historical high-grade copper deposits in the U.S. for its mining business (https://nnw.fm/jOFPS). In the Fraser Institute’s annual survey, Arizona and Nevada persistently score as one of the world’s most attractive mining jurisdictions due to the efficient permitting process and the faster timeline for drilling and development, which help decrease the projects’ risks and reduce exploration costs. Pais claims that the rapid deployment of drills is another feature of the project’s land ownership advantages, revealing that the company has averaged three months turnaround for drilling permits. For comparison, other junior mining competitors often wait much longer, sometimes even years.
The project has said to have already been attracting significant market attention. Still, the experienced management team expects to catch the eye of the mid-tier base and precious metal producers as the drill results are revealed during the exploration program. “We’re not mine builders, but we know what the gold and copper companies are looking for,” Paul Reid, the company’s Executive Chairman, added. “We’re in a jurisdiction they like, but we need to build a production profile that moves the needle for producers looking for additional copper and gold production. We just need to keep showing how big the Kay Mine Project can be while we continue to de-risk it.” The company owns 100% of their Kay Mine Deposit, its flagship copper-gold-zinc-silver asset located in Yavapai County. The VMS (volcanogenic massive sulfide) copper-gold-zinc-silver project has a history going back over a century in a fertile region that includes 60 past-producing underground Cu Au-Zn VMS mines within a 150-kilometer radius.
It appears that there has never been better support for the U.S. mining industry as we become aware of the importance of critical minerals for the country’s digital economy and modern military grows – in lockstep with alarming concerns due to the lack of their secure supply. Although the U.S. boasts world-class reserves of minerals critical to its economic and national security, the country’s reliance on mineral imports and foreign processing leaves it vulnerable since robust critical mineral supplies are vital to economic and national security, especially its high-tech digital economy and advanced military.
The concerns that the U.S. is growing dependent on countries such as China – the dominant global player in critical minerals processing – are increasing at the same time as the market for critical minerals is heating up. The Inflation Reduction Act, intended to pour hundreds of billions of dollars in subsidies, is expected to drive up demand massively. For example, tax credits are available for electric car makers if they source at least 40% of their critical minerals used in battery production from the U.S. or countries that have a free trade agreement with the U.S. (https://nnw.fm/njig7).
With projected mineral demand soaring, the push for prioritization of a secure supply of critical minerals to make the U.S. self-sufficient in refining critical minerals could give a strong boost to the domestic mining industry.
For more information, visit the company’s website at www.ArizonaMetalsCorp.com.
Full Disclosure: Arizona Metals Corp. is an InvestorBrandNetwork marketing client.
NOTE TO INVESTORS: The latest news and updates relating to AZMCF are available in the company’s newsroom at https://nnw.fm/AZMCF
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