M2i Global Inc (OTC:MTWO) and Volato Group have signed a memorandum of understanding (MOU) with Nimy Resources to pursue a supply agreement for gallium sourced from Western Australia, the companies announced on Wednesday.
Under the non-binding MOU, Nimy and M2i plan to work toward commercially binding terms for the sale and purchase of gallium from Nimy’s Mons project.
The agreement comes as the US, which currently has no primary domestic gallium production, seeks non-Chinese supply options amid export controls from Beijing. China suspended its ban on gallium exports to the US until November 2026, but shipments remain subject to licensing requirements.
The companies said accessing gallium from alternative sources is important for US energy, defense, and semiconductor supply chains.
The Mons project hosts a near-term JORC-compliant gallium resource alongside rare earth elements and other critical minerals. The MOU covers only the Mons asset and outlines cooperation on development, supply, and potential offtake arrangements.
“M2i Global is excited to partner with Nimy Resources to secure a reliable, high-quality source of gallium for the United States,” M2i Global CEO Al Rosende said in a statement.
“This MOU underscores our commitment to building a robust critical minerals supply chain, and we are eager to support the development of Mons through financing and strategic collaborations.”
Luke Hampson, Nimy Resources managing director, added that the signing of the MOU represents a “pivotal moment” for the company as it advances Mons towards production.
“This partnership not only validates the quality of our pending gallium resource definition but also positions Nimy to play a critical role in supplying the US market with this strategically important mineral,” Hampson said. “We look forward to collaborating with M2i to unlock the full potential of the Mons Project and deliver value to our shareholders.”
Nimy and M2i will begin due diligence and negotiate key commercial terms, including pricing, quantities, and logistics. Nimy plans to continue advancing project permitting and funding in line with the timelines set out in the agreement.
As part of the MOU, M2i received exclusive rights to negotiate the purchase of up to 100% of gallium-bearing concentrates from Mons for shipment to the US, subject to finalizing a binding agreement.
The company will also assist Nimy in approaching potential US buyers and exploring project financing options, including introductions to third-party lenders such as the Export-Import Bank of the United States.
The due diligence period is set at six months, with the option to extend. The parties expect to work toward a formal offtake agreement within 12 months. Upon the commencement of shipments, M2i would receive life-of-mine exclusivity for US-bound gallium sales.