Micron backs Indium rare earth expansion in New York

Micron Technology has entered a long-term agreement with Indium Corporation to expand the production of high-purity rare earth metals at a facility in New York. The deal aims to restart the processing of critical minerals essential for advanced chip manufacturing within the United States.

Supply chain security focus

The investment aligns with Micron’s July commitment to allocate $3 billion toward strengthening the domestic semiconductor supply chain. This initiative seeks to ensure reliable local access to vital industrial minerals, reducing dependence on imported materials.

Financial details of the transaction remain undisclosed. However, Micron stated that the partnership supports Indium’s efforts to scale up its manufacturing and purification operations for high-purity rare earth elements in New York.

Long-term strategic goals

Under the new arrangement, Micron will secure supplies of the high-purity metals produced by Indium. The company indicated that this move is expected to enhance the resilience of US semiconductor supply networks while lowering reliance on foreign imports.

This agreement complements Micron’s broader strategy to invest over $250 billion in technology and manufacturing across the United States through 2035. These plans include the development of a chip fabrication complex in New York.