Tuesday morning, officials with the Borderplex Alliance, the City of El Paso, and El Paso County announced that the Critical Materials Corporation (CMC) is opening a minerals extraction plant in the Borderplex region.
CMC officials say these operations will support their production of battery-grade lithium for use by manufacturers of electric vehicles.
Steve McArthur, CMC’s CEO said, “This is a very important project for our company and so our President & COO has relocated to El Paso to supervise the plant refurbishment and start-up, which will bring millions of dollars of new investment to the local economy and add many new jobs.”
According to their website, CMC is in the process of conducting due diligence on and securing access rights to a variety of properties in the US to extract lithium and Rare Earth Elements.
“We have been graciously welcomed into the El Paso community and have already hired seven full-time employees. We intend to return potable water to EPWU and by using advanced salt splitting technology, to produce a number of products that will be used in the Permian Basin oilfields and regional refineries, as well as for agricultural fertilizer,” Tom Currin, CMC’s President & COO stated.
“CMC also has plans to expand its presence in the El Paso area by building a facility to produce lithium for electric vehicles.”
Oscar Leeser, Mayor of El Paso said, “As the Mayor of El Paso and a businessman in the automobile industry for 42 years, I’m incredibly proud that our region’s natural resources will help power the future of the auto industry. The investment that CMC is making demonstrates how desirable everything our region has to offer is to premier companies, as well as the success of our economic development efforts with the County of El Paso and The Borderplex Alliance. I am thrilled to welcome them to El Paso.”
“Our region is always looking to the future and trying to attract ambitious companies at the vanguard of innovation,” El Paso County Judge Ricardo A. Samaniego added. “We are grateful to CMC and our partners at The Borderplex Alliance and City of El Paso for helping us turn this dream into a reality.”
Jon Barela, CEO of The Borderplex Alliance said, “China’s dominance of critical materials and rare earth minerals threatens U.S. national security and commerce globally. We are proud to work with CMC to help open this minerals extraction plant which in addition to the added jobs and investment in our region, will help secure a long-term supply of critical materials based in North America.”
CMC shares that their process is similar to fracking and horizontal drilling used in the U.S. domestic energy industry. Using this technology, CMC says that “North American sources of critical materials that were previously overlooked have now been rendered accessible and commercially viable…”