Join our daily newsletter At The Bell to receive exclusive market insights
Pioneer Minerals (ASX:PMM) has been accepted as a member of the U.S. Defense Industrial Base Consortium (DIBC) in an international move it expects will boost its access to new critical mineral markets and investments.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
DIBC is a U.S. Department of Defense initiative created to strengthen and expand the nation’s defence industrial base and critical supply chains.
DIBC members are expected to support programs aimed at expanding domestic production of strategically important materials and technologies. The consortium includes more than 1,500 companies, universities and organisations involved in defence supply chains, providing members with opportunities to collaborate on U.S. government-funded initiatives targeting defence supply chain resilience.
Australian-headquartered Pioneer has attracted interest for the strategic importance of tungsten and the company’s North Pine project in Idaho.
The explorer’s CEO, Michael Beven, said the company is advancing technical studies and development planning aimed at positioning the North Pine to support U.S. defence and critical minerals supply chain initiatives.
“Acceptance into the Defence Industrial Base Consortium represents a significant step forward for Pioneer as we advance the North Pine project in Idaho.”
Mr Beven said the past producing North Pine has strong potential to contribute to the re-establishment of secure U.S. tungsten supply, with the project’s Springfield prospect containing high-grade tungsten up to 2.98%.
“We believe Springfield has the potential to contribute meaningfully to US tungsten supply, and our participation in the DIBC enhances Pioneer’s ability to advance development pathways, pursue potential non-dilutive funding opportunities and evaluate downstream processing partnerships within the States.”
Tungsten is classified as a critical mineral by the U.S. and is essential for defence systems, aerospace applications, advanced manufacturing and high-performance alloys.
“The States currently relies heavily on imported tungsten supply, creating a strategic vulnerability within defence and advanced manufacturing supply chains,” Mr Beven said.
PMM will open today at 17.5cps.
Join the discussion: See what HotCopper users are saying about Pioneer Minerals Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
