US Strategic Metals (USSM), a critical minerals company, has entered into a non-binding MOU with Stillwater Critical Minerals to explore various business opportunities within the critical minerals sector.

The collaboration is set to encompass marketing support, with an emphasis on joint lobbying efforts directed at key US Government entities such as the Department of Energy and the Department of Defense.

Technical collaboration is also part of the agreement, with provisions for metallurgical and mineral processing development, as well as the establishment of supply chains.

Additionally, the MOU outlines potential areas of cooperation in offtake and logistics, alongside the exploration of strategic financing options, which may include equity or debt investment in Stillwater.

The partnership will also focus on attracting additional strategic partners to further the objectives of both USSM and Stillwater.

US Strategic Metals CEO Stacy Hastie said: “USSM is building a large critical metal supply chain, providing reliable, traceable and conflict-free battery metals to the US.

“USSM aims to expand production in the coming years and, as such, is developing relationships with raw materials suppliers to allow it to meet rapidly growing critical metal demand.”

Stillwater Critical Minerals president and CEO Michael Rowley said: “Stillwater West is a special asset and almost entirely unique in the US at a time when all stakeholders, from the federal government to industry and investors, recognise the overwhelming need for domestic supplies of the very critical minerals this project hosts.

“We have built a world-class team that includes Glencore at both an equity and management level and are pleased to be aligning ourselves with another strategic partner like USSM to continue to advance this project.”

In August this year, USSM received a non-binding letter of interest from the Export-Import Bank of the US for a potential $400m funding package.