Money
Military Metals Responds to China's Export Ban on Critical Minerals
Wednesday, 04 Dec 2024 9:50 AM MYT
Vancouver, British Columbia - Newsfile Corp. - December 3, 2024 - Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90) (the "Company" or "MILI") a leading North American exploration company focused on critical minerals, acknowledges today's announcement by China banning exports of gallium, germanium, and antimony to the United States. This move underscores the urgent need for Western nations to secure reliable long-term sources of these essential materials.
Antimony, a critical component in military applications, energy storage, and advanced manufacturing, is now at the forefront of the global supply chain crisis. China's ban, coupled with existing restrictions that came into effect September 15, 2024, has already sent antimony prices soaring by over 228% this year(1). The Western world faces mounting pressure to address its reliance on China for strategic resources critical to national defense and technological innovation. This ban comes at a time when defense sector inventories are at already concerningly low levels.(2)
Military Metals recent antimony mineral project acquisitions in Slovakia, Nova Scotia, and Nevada provide shareholders with a pure antimony play with a diverse portfolio in top jurisdictions.
"This announcement from China reinforces the importance of Military Metals' mission to secure a sustainable, independent future supply chain for critical minerals," said Scott Eldridge, CEO of Military Metals Corp. "The West can no longer afford to rely on adversarial nations for resources essential to our security and economic stability. We are taking proactive steps to meet this growing demand with future domestic and allied sources of antimony."
As geopolitical tensions escalate and the trade war intensifies, Military Metals will continue to prioritize the development of critical mineral resources and work closely with governments and industry partners to ensure the West remains resilient and self-sufficient.
About Military Metals Corp.
The Company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition, exploration and development of mineral properties with a focus on antimony.
ON BEHALF OF THE BOARD of DIRECTORS
For more information, please contact:
Scott Eldridge
CEO and Director
scott@militarymetalscorp.com
For enquiries, please call 604-722-5381 or 604-537-7556
This news release contains "forward-looking information". Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release include exploration activities, and assumptions related to the continuation of the global demand for antimony. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. These include, geopolitical developments related to the supply of antimony, the continued use of antimony and availability of alternatives, availability of capital and labour in respect of the properties that are the subjects of this news release, the results of any future exploration activities, which cannot be guaranteed, and such other factors as may impact both and any future activities in respect of the properties.. Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
(1)Reuters; China bans export of critical minerals to US as trade tensions escalate; By Amy Lv and Tony Munroe; December 3, 2024
(2)Heritage Foundation: commentary/It’s Past Time to Re-Supply Our Munitions-Depleted U.S. Navy by Jim Fein; June 17, 2024
Antimony, a critical component in military applications, energy storage, and advanced manufacturing, is now at the forefront of the global supply chain crisis. China's ban, coupled with existing restrictions that came into effect September 15, 2024, has already sent antimony prices soaring by over 228% this year(1). The Western world faces mounting pressure to address its reliance on China for strategic resources critical to national defense and technological innovation. This ban comes at a time when defense sector inventories are at already concerningly low levels.(2)
Military Metals recent antimony mineral project acquisitions in Slovakia, Nova Scotia, and Nevada provide shareholders with a pure antimony play with a diverse portfolio in top jurisdictions.
"This announcement from China reinforces the importance of Military Metals' mission to secure a sustainable, independent future supply chain for critical minerals," said Scott Eldridge, CEO of Military Metals Corp. "The West can no longer afford to rely on adversarial nations for resources essential to our security and economic stability. We are taking proactive steps to meet this growing demand with future domestic and allied sources of antimony."
As geopolitical tensions escalate and the trade war intensifies, Military Metals will continue to prioritize the development of critical mineral resources and work closely with governments and industry partners to ensure the West remains resilient and self-sufficient.
About Military Metals Corp.
The Company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition, exploration and development of mineral properties with a focus on antimony.
ON BEHALF OF THE BOARD of DIRECTORS
For more information, please contact:
Scott Eldridge
CEO and Director
scott@militarymetalscorp.com
For enquiries, please call 604-722-5381 or 604-537-7556
This news release contains "forward-looking information". Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release include exploration activities, and assumptions related to the continuation of the global demand for antimony. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. These include, geopolitical developments related to the supply of antimony, the continued use of antimony and availability of alternatives, availability of capital and labour in respect of the properties that are the subjects of this news release, the results of any future exploration activities, which cannot be guaranteed, and such other factors as may impact both and any future activities in respect of the properties.. Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
(1)Reuters; China bans export of critical minerals to US as trade tensions escalate; By Amy Lv and Tony Munroe; December 3, 2024
(2)Heritage Foundation: commentary/It’s Past Time to Re-Supply Our Munitions-Depleted U.S. Navy by Jim Fein; June 17, 2024
The issuer is solely responsible for the content of this announcement.
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