Magnum Mining Pursues Fast-Tracked Permitting for Nevada Critical Minerals Hub
Magnum Mining and Exploration (ASX: MGU) will explore the possibility of it being able to fast track the permitting for a proposed critical minerals processing hub at its 100% owned Huxley and Colado sites in Nevada.
The company has already entered into discussions with key consultants in relation to the development of the Lovelock hub for processing high-grade antimony and rare earth elements (REE).
Magnum announced in early September that it was conducting a rigorous review of its US portfolio after a recent capital raise, changes to its board, and further additions to the exploration team.
Modular Processing Hub
That strategic review identified an opportunity to create a scalable, modular processing hub strategically located adjacent to an interstate highway with direct rail access and within close proximity to the Hawthorne Military Depot, a key US facility for critical minerals stockpiling.
“With critical minerals security a clear priority for the US, we are positioning the company to be part of that solution by investigating the establishment of the Lovelock Critical Minerals Processing Hub,” chairm Michael Davy said.
Magnum’s staged development strategy would start with a small-scale modular smelter that would commence small-scale antimony production and be expandable through the installation of additional units, as feed supply and offtake agreements grow.
The hub’s REE processing would similarly focus on producing a concentrate utilising modular plants that Magnum can add to as it sees fit.
FAST-41 Act Potential
The company sees the US Department of Energy’s Fixing America’s Surface Transportation Act (FAST-41) – which helps co-ordinate and oversee procedures for infrastructure projects under review by federal agencies – as an opportunity to support its development plans.
“The Lovelock hub not only provides the potential for commercial opportunity, but could also position Magnum as a strategic partner in rebuilding US critical minerals supply chains,” Mr Davy said.
“With modular expansion capacity and, if eligible, government alignment through FAST-41, we believe Lovelock could become a processing hub with long-term value.”