Volato(US:SOAR) Globenewswire·2025-11-19 13:30Core Insights - The collaboration between Nimy Resources and M2i Global aims to establish a supply chain for gallium production, addressing the U.S.'s reliance on imports for this critical mineral [2][3][6] Company Developments - Nimy Resources and M2i Global have signed a non-binding Memorandum of Understanding (MOU) to negotiate the sale and purchase of gallium from the Mons Project in Western Australia [4][5] - The Mons Project is expected to provide a JORC-compliant gallium resource along with other critical minerals, enhancing the supply chain for the U.S. market [4][6] Market Context - The U.S. currently imports 100% of its gallium, with a significant portion sourced from China, highlighting the need for domestic production to ensure national security and supply chain resilience [3][6] - The agreement aligns with the increasing global demand for critical minerals, particularly gallium, which is essential for sectors such as semiconductors, aerospace, and defense [6][8] Strategic Initiatives - M2i Global has been granted exclusive rights to negotiate the purchase of up to 100% of gallium-bearing concentrates from the Mons Project for delivery to the U.S. [8][9] - M2i will assist Nimy in approaching U.S. entities as potential buyers, aligning with U.S. critical minerals priorities [8][9] Project Development - The due diligence period for M2i to conduct assessments will last six months, during which Nimy will provide necessary metallurgical data [9] - The parties aim to negotiate a formal offtake agreement within 12 months, ensuring a structured path towards commercialization [9][10] Leadership Statements - M2i Global's CEO emphasized the importance of securing a reliable source of gallium for the U.S., reinforcing the commitment to building a robust critical minerals supply chain [7] - Nimy's Managing Director highlighted the MOU as a pivotal moment for advancing the Mons Project towards production, validating the quality of their gallium resource [7]