Micron Technology (MU.US) invests in expanding Indium’s New York plant: Restarts domestic processing of critical minerals, secures long-term supply of high-purity materials

According to Jinse Finance APP, Micron Technology (MU.US) plans to invest in an expansion project at the New York factory of U.S. materials manufacturer Indium Corporation, aiming to enhance domestic processing capacity of critical minerals and the manufacturing of high-purity materials, thereby strengthening the semiconductor supply chain within the United States.

Under the agreement, Micron will provide funding required for Indium Corporation’s expansion of its factory in Rome, New York; in exchange, Indium will sign a long-term high-purity minerals supply agreement with Micron. This deal is part of Micron’s broader goal—to invest up to 3 billion USD to reduce reliance on the global market for these materials.

"The manufacturing of advanced memory relies on a reliable supply of critical minerals," said Ben Tessone, Micron’s Senior Vice President and Chief Procurement Officer. "Ensuring these inputs is essential to Micron's long-term growth and technology roadmap. Partnering with Indium Corporation to restart this capacity at its New York facility expands U.S. production capabilities for critical minerals and establishes a more resilient supply chain for U.S. semiconductor manufacturing and national security."

Micron expects to invest over 250 billion USD in its U.S. wafer factory layout by 2035, which, to some extent, begins with building a foundation of domestic materials.

"When I drafted and pushed the CHIPS and Science Act into law, bringing Micron’s historic investment to New York State, I made a commitment: the semiconductor supply chain following Micron would bring more investment and jobs to communities from Rome to Syracuse, and across the entire state," said U.S. Senator Chuck Schumer. "Today’s collaboration announcement between Micron and Indium Corporation is proof that this is happening. By joining forces with Indium Corporation, a long-established local partner, Micron is creating new demand, expanding critical minerals processing within the United States, reducing reliance on overseas sources, and bringing a brighter future for additional jobs and investment to the Mohawk Valley."