Micron expands US critical minerals processing with Indium investment

2 hours ago

(AWP Alliance News) - Micron Technology Inc, the Boise, Idaho-based memory chipmaker, is expanding its critical minerals processing capabilities in New York, by investing in the Indium Corp, a Clinton, New York-based materials manufacturer, Micron announced on Tuesday.

Financial terms of the investment were not disclosed, but Micron said the deal is part of its commitment, announced in July, to invest up to USD3 billion to strengthen the US semiconductor supply-chain ecosystem and secure a reliable domestic supply of critical manufacturing materials.

Micron said the investment would support the expansion of Indium's refining and high-purity materials manufacturing operations in upstate New York, helping to restart domestic processing of critical minerals used in advanced semiconductor manufacturing.

The companies also entered into a long-term supply agreement that will provide Micron access to high-purity minerals produced by Indium.

The company said the investment is expected to reduce reliance on concentrated global refining capacity and support a more resilient US semiconductor supply chain.

Micron added that the agreement complements its plans to invest more than USD250 billion in US manufacturing and technology through 2035, including development of its semiconductor fabrication complex in New York.

Micron shares opened 0.6% higher at USD910.55 each on Tuesday in New York.

source: dpa