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US Copper Corp. Benefits from Biden's Defense Act Order on Critical Minerals
Toronto, Ontario--(Newsfile Corp. - April 5, 2022) - US Copper Corp., ( TSXV :  USCU) (FS...
About this update from Us Copper Corp
[{"type":"text","content":"US Copper Corp. Benefits from Biden's Defense Act Order on Critical MineralsToronto, Ontario--(Newsfile Corp. - April 5, 2022) - US Copper Corp., (TSXV: USCU) (FSE: C730) (\"US Copper\" or the \"Company\") would like to note that United States of America (\"U.S.\") President Biden's decision to invoke the Defense Act to expand domestic production of critical minerals should facilitate the Company's ongoing efforts to advance its large Moonlight-Superior Project, a historically operated copper mine in California, back into production.President Biden stated in a Memorandum invoking the Defense Act to Secretary of Defense Lloyd J. Austin on March 31, 2022: \"The United States depends on unreliable foreign sources for many of the strategic and critical minerals necessary for the clean energy transition - such as lithium, nickel, graphite, and manganese for large-capacity batteries. Demand for such materials is projected to increase exponentially as the world transitions to a clean energy economy.\"President Biden's memorandum went on to say: \"I find that action to expand the domestic production capabilities for such strategic and critical materials is necessary to avert an industrial resources or critical technology item shortfall that would severely impair the national defense capability.\"\"While Biden's Defense Act Order did not mention copper specifically, the clean energy transition cannot occur without a significant increase in copper production. The Order will help all critical minerals projects in the U.S. that are necessary for the clean energy transition by allocating additional resources to the mining sector, including funding for feasibility studies,\" said Steve Dunn, CEO of US Copper.US Copper is developing the Moonlight-Superior Project, located approximately 125 miles from Tesla's Gigafactory outside Reno, Nevada. President Biden's Defense Act Order highlights the important role that the Company can play in ensuring the U.S. has a secure supply of one of the key metals to achieve its transition to a low carbon economy. Copper is a critical material for everything from renewable power generation to electric vehicles. As such, it will be vital that the U.S. has a strong and viable domestic source of copper supply. US Copper is focused on advancing its Moonlight-Superior Project towards the production st...