Micron invests in critical minerals processing at Indium in New York
Micron is investing in an expansion of Indium Corporation’s refining and manufacturing operations in Rome, New York, which will restart US processing of critical minerals used in semiconductor manufacturing. In return, Micron gets a long-term supply agreement for the high-purity materials.
The investment is part of the plan Micron announced in July to spend up to USD 3 billion on strengthening the US semiconductor supply chain, according to a press release from the company. The aim is to reduce dependence on global refining capacity that is concentrated in a few places. Micron describes this as a national security priority. The company has not disclosed the size of the investment or which minerals Indium will process.
“Advanced memory manufacturing depends on a reliable supply of critical minerals. Enabling that requires engagements well beyond our direct suppliers. Securing these inputs is essential to Micron's long-term growth and technology roadmap,” says Ben Tessone, Senior Vice President and Chief Procurement Officer at Micron.
The materials will be produced in the same state as Micron’s planned fab complex in Clay, near Syracuse. According to New York Governor Kathy Hochul, the project is several months ahead of schedule. Micron has also raised its expected US investment in fabs and technology to more than USD 250 billion through 2035.
Indium Corporation has been based in Central New York for more than 90 years and makes materials for electronics and semiconductor assembly.
“We're grateful for Micron's confidence in our team and the opportunity to build on that history. Together, we’re expanding the supply of semiconductor-grade critical minerals and taking an important step forward for domestic manufacturing,” says Ross Berntson, President and CEO of Indium Corporation.
