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Iris Metals is positioning itself as a US producer of critical minerals such as lithium and rubidium, addressing supply chain concerns. The company operates the only permitted US project capable of producing lithium and rubidium direct shipping ore, with its Beecher project in South Dakota ready for near-term production.

Iris is in discussions with the US government regarding grants and loans to expedite production. The company recently raised $5.5 million to support its critical mineral projects and plans to expand with the acquisition of the Finley Basin tungsten project in Montana, which contains a significant historical resource.