Micron Technology, Inc. announced strategic funding for Indium Corporation to expand critical-minerals refining and high-purity materials manufacturing in Rome, New York. The companies also plan a long-term supply agreement that will provide Micron with high-purity minerals for advanced semiconductor manufacturing. Micron said the investment supports restarting domestic processing of critical minerals and expanding U.S. processing capacity.
What it means
Indium Corporation’s Rome expansion is intended to support critical-minerals processing and high-purity materials manufacturing in Central New York. Micron said the supply agreement will give it access to high-purity minerals and reduce reliance on concentrated global refining capacity and foreign sources.
Micron announced in July that it planned to invest up to $3 billion in the U.S. semiconductor supply-chain ecosystem and expects U.S. spending of more than $250 billion through 2035. Its New York fab complex is being built in Clay, while Indium Corporation’s expanded capabilities will be in Rome.
Key facts
- Micron will provide strategic funding for Indium Corporation’s Rome, New York, refining and manufacturing expansion.
- Micron and Indium Corporation plan a long-term supply agreement for high-purity minerals.
- Micron announced plans in July to invest up to $3 billion in the U.S. semiconductor supply-chain ecosystem.
- Micron expects to spend more than $250 billion in the United States through 2035.
- Indium Corporation has operated in Central New York for more than 90 years.
- Micron is building a fab complex in Clay, New York.
Source: Micron Technology, Inc. announcement