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GM Defense President Stephen duMont Named Chairman of REalloys
Yahoo Financeยท 2025-10-20 12:00
Core Insights - Blackboxstocks Inc. announced that REalloys Inc. has appointed Stephen S. duMont as non-executive Chairman of the Board, following a significant offtake agreement with Critical Metals Corp, marking a step towards establishing a Western-aligned supply chain independent of China [1][2] Company Developments - REalloys is accelerating efforts to create a secure North American rare-earth processing and magnet manufacturing network, with duMont providing strategic guidance aligned with U.S.-Canadian defense priorities [2][3] - The company is positioning itself as a cornerstone in establishing an independent critical-mineral supply chain amid global competition with China, supported by agreements with Critical Metals and St George Mining [3][7] - David Argyle has resigned as CEO, with founder Leonard "Lipi" Sternheim returning to oversee the scaling of REalloys' vertically integrated operations in refining, separation, and magnet production [6] Leadership and Expertise - DuMont brings over 30 years of experience in defense and aerospace, having held positions at Raytheon, Boeing, and BAE Systems, and leading military programs at GM Defense [4][5] - The board includes experienced members such as former Canadian Ambassador David MacNaughton and former Saskatchewan Premier Brad Wall, reflecting REalloys' ambition to bridge industrial capacity with national defense priorities [5] Industry Context - The appointment of duMont highlights a growing trend in North America to localize critical-mineral production as part of defense-industrial integration efforts, aiming for technological independence from China [7]