Idaho May Hold the Key to Breaking National Dependency on Foreign Steel
by Shaun Dykes, President & CEO and Lisa Anderson, Vice President of Government Relations / Idaho CuMo Mining Corporation (ICMC) • April 19, 2017
President Trump has called for massive infrastructure investments with proposals ranging from $500 billion to $1.1 trillion. The Administration’s infrastructure plan expresses their intent to use American-made materials to rebuild or expand roads, airports, railroads and pipelines. They have taken an unwavering “buy American; hire American” stance in relation to rebuilding the United States’ aging infrastructure and increasing defense capabilities.
The U.S. has the engineering expertise, a highly-skilled workforce, and the technology to undertake this expansive improvement initiative. However, the country is faced with an inadequate supply of domestic steel, especially high-grade molybdenum steel. This shortage presents an exceptional opportunity for Idaho’s molybdenum deposits, particularly the developing CuMo Project in Boise County.
Idaho is rich in molybdenum, a strategic metal used primarily as an alloying agent in steel, cast iron, and super alloys to enhance hardening ability, strength, toughness, wear, and corrosion resistance. Many of the projects proposed by the Trump Administration will require molybdenum-enhanced steel to assure that it will endure for decades to come. It has been shown that pipelines constructed with molybdenum steel last two to three times longer than other types of steel.
The world’s demand for molybdenum continues to rise, with the International Molybdenum Association estimating that the world will need an additional 200 million pounds annually over the next decade. While the demand for domestic steel increases, the U.S. imports 100 percent of 20 strategic metals and minerals and 50 percent of 30 more.
The CuMo Project, under the management of Idaho CuMo Mining Corporation (ICMC), is positioned perfectly to lead the nation in closing the gap between the supply and demand necessary to meet the Administration’s infrastructure plans. CuMo has the potential to produce 70 million pounds of molybdenum per year for decades, while providing thousands of well-paying jobs in one of the State’s poorest counties. Decades of strategic exploration and environmental studies have demonstrated the CuMo Project to be environmentally safe, an extremely low-cost producer, and a sustainable job source for up to 100 years.
However, despite its enormous promise and potential, the permitting process continues to delay this much-needed project and others throughout the U.S. To date, ICMC has spent over $3.3 million and 10 years in complying with NEPA regulations and processes; some of which are standard and some of which are considered extraordinary and duplicative measures for a project of this type. Clearly, the NEPA process is not working as it was intended. Both the U.S. House and Senate have introduced bills (H.R. 520, S. 145) that, should they pass and be signed into law, will require federal agencies to stick to the 30-month statutory permitting timeline for “strategic and critical minerals” mining projects on federal land.
Other countries have already reconciled their high environmental standards and the need to produce sustainable, domestic sources of strategic minerals and metals. Australia and Canada adhere to similarly stringent, environmental platforms and permitting processes for mines, yet it takes only 2-3 years to navigate.
The U.S. must learn to maintain strict regulatory oversight while simultaneously streamlining the permitting process for critical, strategic mineral projects, thus loosening our national dependency on foreign sources. Our closest environmental allies are successfully doing it. With the resolve of Congress and the President’s Administration, the U.S. is positioned to follow suit. By doing so, our national security and economy will improve immensely with secure and sustainable domestic sources of strategic minerals and metals. The time is now for Congress to act.
President & CEO
Idaho CuMo Mining Corporation
Vice President of Government Relations
Idaho CuMo Mining Corporation
Idaho CuMo Will Sell 20 Percent of the Company to Pay for Feasibility Study
by Benton Alexander Smith / Idaho Business Review • December 15, 2016
Idaho CuMo Mining has entered into a partnership with a Hong Kong mining company to raise money for its mine in the Boise National Forest and a gold mine it plans to buy in east-central Idaho. CuMo entered into a joint venture agreement with Platinum Resources International on Nov. 21. The two companies then started a Delaware …
American CuMo Mining: How Ore-sorting Technology Can Cut Costs
by Charlotte McLeod / INN Copper Investing • January 21, 2016
The company recently announced that the use of ore-sorting technology could allow for big upgrades at its CuMo deposit.
Located in Idaho, American CuMo Mining‘s (TSXV:MLY) CuMo project is impressive. It’s the largest unmined moly project in the world, but also contains significant copper and silver credits — in fact, it holds so much silver that it’s one of the 25 top silver deposits in the world.
Mining Company Clears Last Boise County Hurdle: Will Now Start Exploration
by Adam Cotterell / Boise State Public Radio • November 13, 2015
The mining company American CuMo Mining Corporation and its subsidiary Idaho CuMo Mining Corporation have finalized an agreement with Boise County that will allow CuMo to begin exploring for valuable minerals in the Boise National Forest near Idaho City.
CuMo Mining Receives Preliminary Approval for Idaho Drilling
KTVB • April 14, 2015
BOISE COUNTY – There’s a new step forward for CuMo Mining Corporation. The company is seeking approval to mine in the Idaho City area. Geologists believe a spot 14 miles northwest of Idaho City could have some of the largest Molybdenum deposits in possibly the world. The mineral is used to strengthen steel and is found in wind turbines and in cell phones, it is also used to help build skyscrapers.
Recently, a report was completed by the U.S. Forest Service that found no significant environmental impact to the area’s groundwater.
This means CuMo can tentatively complete its exploration drilling phase . . .
American CuMo Mining Hits ‘Major Stepping Stone’ at Idaho Project
It’s been a long time coming, but American CuMo Mining (TSXV:MLY,OTC Pink:MLYCF) has overcome a significant hurdle in the permitting process for its massive CuMo Project in Idaho . . .
American CuMo Mining Corporation (TSX-V:MLY) CEO Shaun Dykes Talks Focus on the CuMo Project
American CuMo Mining Corporation (TSXV:MLY) Chief Executive Officer, Shaun Dykes, spoke to Resource Investing News at the Vancouver Resource Investment Conference about the CuMo Project in Boise, Idaho. In 2013, the Company transitioned and re-focused solely on the CuMo Project so in 2014, investors can expect news about financing, a resource calculation, bulk sampling, and an economic analysis.
CuMoCo is focused on advancing its CuMo Project towards feasibility and establishing itself as one of the largest and lowest-cost molybdenum producers in the world as well as a significant producer of copper and silver. Management is continuing to build a strong foundation from which to move the Company and the CuMo Project forward.
DISCLOSURE: American CuMo Mining Corporation (the “Company”) is a sponsor of Moly Investing News owned by Dig Media Inc (‘Dig’). Sponsorship of Moly Investing News means that the Company is a sponsor of Moly Investing News for 365 days (the “Sponsorship Period”), and is a featured company during the Sponsorship Period and is profiled on molyinvestingnews.com and in an analyst interview during the Sponsorship Period. The interviews may include information that represents the views of third parties and may not necessarily be representative of the views of the Company.
Mining Company Names Leadership Team
Idaho Business Review • January 30, 2013
The American CuMo Mining Corporation, formerly Mosquito Consolidated Gold Mines Limited, has named a new CEO and elected new directors including two Idaho businessmen.