Micron Technology’s investment in New York minerals processor Indium Corporation falls within a U.S. chip supply chain plan of up to $3 billion aimed at securing materials for memory chips.
Micron announced the plan on July 9. The $3 billion figure is a ceiling, rather than an amount the company has committed to spend. Micron has not disclosed how much of it will go to Indium.
On Oct. 20, Micron said it had agreed to provide funding to support an expansion of Indium’s minerals processing and materials manufacturing operations in Rome, New York. The companies also intend to enter a long-term agreement for Indium to supply Micron with high-purity minerals.
The Rome minerals project addresses a risk Micron identified in its supply network: concentrated global refining capacity. Indium would receive funding to expand its operations, while Micron expects more reliable access to materials used in advanced memory manufacturing.
Micron’s July proposal pairs a 10-year wafer supply deal with $500 million in financing for GlobalWafers Co., Ltd.’s plant in Sherman, Texas. The financing remains subject to final agreements, approvals and closing conditions.
Separately, Micron’s U.S. factory and technology investment program exceeds $250 billion through 2035. The company has not set a date for completing the GlobalWafers transaction.
