M2i Global (OTC:MTWO) has called for greater support of domestic critical minerals projects after China announced it is banning the export of certain critical minerals to the US.
China’s commerce ministry announced on December 3 that it will prevent the export of gallium, germanium, antimony and so-called superhard materials such as tungsten to the US in response to the Biden administration curbing technology exports to the country. These materials are used to produce semiconductors, military equipment and renewable energy technologies.
M2i Global (OTC:MTWO) said in a statement on Friday that the export ban “underscores the fragility of current supply chains and the pressing need for diversification and domestic production.”
It called for a combination of strategic investment, policy reform and innovation. Specifically, it said lawmakers should support domestic mining projects with clear regulations that protect the environment and communities while achieving economic goals.
They also believe industries should adopt recycling practices to extend the lifespan of critical materials.
The company, which specializes in creating domestic supply chains that reduce dependence on foreign sources like China, added that the ban supports the reason why M2i Global was founded.
"This announcement by China is exactly why we created M2i Global a couple of years ago and validates everything we have been saying and doing. This action by China supports both the huge need and opportunity we have identified and are executing upon with all of the strategic partnerships we have formed,” M2i CEO Alberto Rosende said in a statement.
“We look forward to continuing to execute on our mission statement in providing access and supply of critical minerals to the US government and private industry."