Lithium Mining Market Projected to Reach $17 Billion By 2035 as it is Expected to be the Cornerstone of Global Energy Transition

Executive Summary

• US Critical Metals Corp. amended its McDermitt East Option Agreement to secure a clear path toward 100% ownership of the McDermitt East Lithium Project, reinforcing its position in a key U.S. lithium district.
• Critical Metals Corp. entered into a $35 million PIPE financing with a fundamental institutional investor to fund development of the Tanbreez rare‑earth deposit in Greenland.
• MP Materials announced a transformational public‑private partnership with the U.S. Department of Defense to build a second domestic magnet manufacturing facility and expand heavy‑rare‑earth separation capacity, supporting U.S. strategic supply chains.

Key Details

• US Critical Metals Corp. (USCM) – Amendment Agreement
• Parties: USCM & its subsidiary US Energy Metals Inc., Live Energy Minerals Corp., Lithium Valley Holdings Corp.
• Purpose: Restructure the September 15 2023 Exploration and Option to Enter Joint Venture Agreement.
• Outcome: Provides a clear path for USCM to acquire 100% ownership of the McDermitt East Lithium Project in the McDermitt Caldera, North America’s largest lithium district.

• Prior sampling results: Up to 2,129 ppm Li reported at McDermitt East.

• Critical Metals Corp. (CRML) – PIPE Financing

• Transaction type: Private Investment in Public Equity (PIPE).
• Gross proceeds targeted: $35 million.

• Use of proceeds: Fund development of the 4.7 billion‑metric‑ton Tanbreez rare‑earth deposit in Greenland.

• CB&I – Engineering Contract

• Awarded by Lithium Nevada LLC (subsidiary of Lithium Americas Corp.).

• Scope: Engineering, procurement, fabrication & construction of 36 flat‑bottom atmospheric tanks at the Thacker Pass lithium project.

• MP Materials Corp. (MP) – DoD Partnership

• Public‑private partnership with the U.S. Department of Defense.
• Goal: Accelerate an end‑to‑end U.S. rare‑earth magnet supply chain and reduce foreign dependency.
• Investment package: Multibillion‑dollar commitment from DoD.
• New facility: 10X Facility, second domestic magnet manufacturing plant, commissioning expected 2028; will raise total U.S. magnet capacity to ~10,000 metric tons.

• Additional plan: Expand heavy rare‑earth separation capabilities at Mountain Pass, CA.

• Albemarle Corp. (ALB) – Market Reaction

• Stock surged on Sept 24 2025 after reports that the U.S. government is considering a substantial equity stake in Lithium Americas, boosting investor sentiment across the lithium sector.

Notable Quotes

• Darren Collins, CEO of USCM: “This transaction represents a significant milestone for USCM… consolidating our position reinforces our commitment to building a portfolio of projects that directly support U.S. supply chains and critical mineral independence.”
• Tony Sage, CEO & Executive Chairman of Critical Metals Corp.: “This financing … further validates the opportunities ahead for Tanbreez and underscores the growing need for heavy rare earths in the West.”