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 two premier U.S. lithium districts.
• 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 rare‑earth magnet manufacturing facility (the “10X Facility”) slated for commissioning in 2028, expanding U.S. strategic rare‑earth capacity.

Key Details

• US Critical Metals Corp. – Amendment to McDermitt East Option Agreement
• Parties: USCM (and subsidiary USEM), Live Energy Minerals Corp., Lithium Valley Holdings Corp.
• Purpose: Restructure the September 15, 2023 Exploration and Option to Enter Joint Venture Agreement to provide a direct route 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 disclosed by USCM: up to 2,129 ppm Li, indicating high‑grade potential.

• Strategic rationale: Aligns with U.S. government initiatives to reduce reliance on Chinese‑controlled critical mineral supply chains.

• Critical Metals Corp. – $35 million PIPE Financing

• Transaction type: Private Investment in Public Equity (PIPE).
• Gross proceeds: $35,000,000 from a “fundamental institutional investor.”
• Use of proceeds: Fund development of the 4.7 billion‑metric‑ton Tanbreez rare‑earth deposit in Greenland.

• CEO Tony Sage quote emphasizing validation of the project and growing demand for heavy rare earths.

• CB&I – Engineering Contract with Lithium Nevada LLC (Lithium Americas subsidiary)

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

• Significance: Supports infrastructure for the world’s largest measured lithium resource/reserve.

• MP Materials Corp. – DoD Public‑Private Partnership

• Partner: United States Department of Defense.
• Investment: Multibillion‑dollar package to accelerate an end‑to‑end U.S. rare‑earth magnet supply chain.
• Project: Construction of a second domestic magnet manufacturing facility (“10X Facility”) with commissioning targeted for 2028, boosting total U.S. magnet capacity to ~10,000 metric tons.

• Additional plan: Add heavy‑rare‑earth separation capabilities at the Mountain Pass (California) site.

• Albemarle Corp. – Market Reaction

• Stock surged on September 24, 2025 after reports that the U.S. government is considering a substantial equity stake in Lithium Americas, signaling heightened investor confidence in domestic lithium producers.

Notable Quotes

• Darren Collins, CEO, US Critical Metals Corp.: “This transaction represents a significant milestone… 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, Critical Metals Corp.: “This financing … further validates the opportunities ahead for Tanbreez and underscores the growing need for heavy rare earths in the West.”

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