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US critical-minerals firm seeks funding for Nevada tungsten mine
Patriot Critical Minerals plans to start operations by mid-2029 at a US$300 million project, applying to the US departments of defence and energy for government support.
Patriot Critical Minerals plans to restart work at a long-abandoned mining site in Nevada to extract tungsten, a metal used across industrial production from aerospace components to cutting tools, the SCMP Economy reports.
The company, which has a single asset, is applying to the US departments of defence and energy for funding as US policymakers push for more critical-minerals production onshore amid concerns that China could make resources harder to obtain following export curbs imposed over the past year.
Patriot CEO Brodie Sutherland said the current administration is driving pro-development efforts, while the company is targeting operations to begin by mid-2029 at a US$300 million project covering 300 acres.
SCMP Economy reports that Patriot has also encountered delays because it faces a shortage of government staff to process applications, including environmental review, and notes analysts say the sector is still young and funding has been scattered, with environmental rules potentially making it harder to compete on price versus Chinese imports.