AI-Powered Revolution in Critical Minerals: A New Dawn for U.S. Mining

The AI-powered Open Price Exploration for National Security program, developed by the U.S. Department of Defense, aids in predicting supply and pricing of critical minerals. Transferred to a non-profit, it aims to reduce dependence on China by enhancing transparency and securing deals in the critical minerals sector.

The U.S. has transferred an artificial intelligence program designed to predict critical mineral supplies and prices to a non-profit organization. This move aims to help miners and manufacturers secure deals in a sector predominantly controlled by China, as initially reported by Reuters last year.

The program, launched by the U.S. Department of Defense in 2023, now supports more than 30 mining companies, manufacturers, and investors. The Critical Minerals Forum will empower users to gain price transparency and reduce reliance on China's dominance in the critical minerals market.

Despite skepticism over its potential impact on traditional metal buying practices, the program promises to reshape the market by calculating metal prices that consider all associated costs, free from Chinese market manipulations.

(With inputs from agencies.)