The company strives to mine raw materials and use recycling to make the US a green economy leader.
US Strategic Minerals (USSM), the only primary Cobalt and Nickel producer and processor in North America, collaborated with LCR Capital on its new $100 million rural EB-5 Fund. The company is building a metals refinery that is committed to processing mined and recycled critical minerals to produce the battery-grade metals needed to fuel the green energy revolution and advance America’s economic and national security.
USSM spotlights The Green Future Challenge: a transition from current fossil fuel-driven production to more environmentally friendly, sustainable alternatives, as its main mission. Creating a future green economy that minimizes the effects of climate change depends on the US’s ability to produce and store energy, which in turn cannot happen without a domestic, sustainable, closed-loop battery industry. The US is in need of these vital minerals to accomplish this task but doesn’t have a clear plan of how to source them domestically. In addition, years of lagging investment and a sense of urgency have left the US pacing behind its competitors. USSM is committed to creating solutions to these challenges, using private capital with the help of like-minded, ESG-focused companies like LCR to accomplish the task.
But this significant undertaking isn’t the only way USSM strives to be ESG-conscious. The company is dedicated to employee wellness by enforcing and adhering to all the necessary safety practices and guidelines, encouraging open and honest communication channels to solve issues effectively, stimulating staff diversification, and emphasizing community integration through participating in town halls.
In addition, and perhaps most impressively, USSM has acquired all the necessary permits for the project, which is a rarity due to the long list of requirements necessary to meet state and federal environmental compliance.
USSM’s CEO, Stacy Hastie, has spent over 30 years involved with environmental protection and clean-up in the mining industry. His company, Environmental Operations, was originally engaged in Missouri to complete the clean-up of the historic lead mine. Through this work, they identified the rare earth minerals like cobalt and nickel in the former mine’s waste piles.
The company strives to implement technology that minimizes the company’s footprint on the environment — something else that’s rarely found in the industry, particularly outside the US in countries like the Congo and China. Mining necessary raw materials has and continues to be a source of major pollution, but USSM is attempting to change that by utilizing pollution prevention measures, closely monitoring the integrity of their facilities to avoid environmental accidents, and, most importantly, sustainably recycling end-of-life batteries as opposed to discarding them in landfills.
You can read more about USSM’s ESG practised as well as The Green Future Challenge on their website.