M2i Global (OTC:MTWO) said on Monday it has signed a non-binding collaboration agreement with Australia-based Nimy Resources to support the US Department of Defense’s (DOD) efforts to secure gallium supplies.
Gallium, a critical mineral used in semiconductors, radar, and aerospace applications, is a strategic priority for the DOD’s Manufacturing Capability Expansion and Investment Prioritization Office, which is working to bolster domestic access to key materials.
Under the agreement, M2i will seek gallium supply contracts for the US government, while Nimy will explore and develop gallium projects in Australia.
The companies plan to leverage their respective capabilities to accelerate the mineral’s availability for defense and economic security.
M2i, which specializes in critical mineral supply chains, will continue to meet the needs identified by the Manufacturing Capability Expansion and Investment Prioritization office, CEO Al Rosendo told shareholders. The office works to assure a sustainable and reliable supply of gallium and other critical materials within the US to produce semiconductors.
“DOD wants to build a resilient industrial base to meet current and future national defense requirements,” Rosende said in a statement.
M2i’s Executive Chairman Doug Cole emphasized the company’s commitment to securing critical resources, stating, “We are excited to work closely with Nimy to advance their vision of setting the benchmark for the integrated supply of superior quality, natural gallium material to the growing technology industry.”
The companies intend to negotiate a definitive agreement to finalize supply arrangements.