Atlantic Strategic Minerals Invests Over $50 Million to Restore Virginia-Based Mining and Mineral Processing Operations

Governor Glenn Youngkin today announced that Atlantic Strategic Minerals (ASM),…



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Governor Glenn Youngkin today announced that Atlantic Strategic Minerals (ASM), an emerging critical minerals producer headquartered in Petersburg, Va., will invest over $50 million to restore and reopen its existing Virginia-based mining and mineral processing operations. These operations include a mining operation in Dinwiddie County and a concentrator plant and mineral separation plant in Sussex County. These facilities will allow ASM to help meet the growing demand for domestically produced critical minerals (so named for the country’s economic dependency on them and whose supply is at risk of disruption). Of these critical minerals, ASM facilities produce materials containing titanium, zirconium, and rare-earth elements. These minerals serve as crucial components in a variety of supply chains, including the aerospace, renewable energy, consumer products, and defense industries. The project will create 71 new jobs at the Sussex County facility.  

We are thrilled to have Atlantic Strategic Minerals restore its mining and processing operations in Dinwiddie and Sussex Counties,” said Governor Glenn Youngkin. “This operation will continue to help transform the economy of this region and support crucial supply chain components for key sectors including aerospace, energy, and defense that are so important here in the Commonwealth and beyond.” 

“We are thankful that Atlantic Strategic Minerals is making this significant investment in Dinwiddie and Sussex Counties,” said Secretary of Commerce and Trade Caren Merrick. “Virginia has the natural resources, infrastructure, and skilled workforce in place that are vital to meeting the needs of the country’s critical minerals supply. We are confident in ASM’s success.”

It is incredibly fortunate that these critical minerals are in Virginia, where there exists a knowledgeable and talented workforce,” said Christopher Wyatt, Chief Executive Officer of Atlantic Strategic Metals. “Between the collective support of the nearby communities and the Commonwealth of Virginia, we are proud to begin operations and contribute to a growing job market.”

ASM’s acquisition of the mining operations in Dinwiddie County is wonderful news for the citizens in the County and region. This industry brings with it high-paying skilled jobs which presents a phenomenal opportunity for the workforce in the area,” said William Chavis, Chair of the Dinwiddie County Board of Supervisors. ”This industry also affects many other sectors of our economy which helps stimulate economic growth.”

We’re very excited to welcome ASM to Sussex County,” said Wayne O. Jones, Chairman of the Sussex County Board of Supervisors. “Our motto is ‘Rooted in the Past, Growing for the Future,’ and the economic development opportunities that ASM will bring to the community reflect that growing and prosperous future. We proudly claim to be the home of the largest Mineral Separator Plant (MSP) in North America. This unique asset paired with our bountiful and rich natural resources will bring numerous good-paying jobs and other economic activity to our region. We’re grateful to our partners in the Governor’s Office, Virginia Economic Development Partnership, Virginia’s Gateway Region, and Dinwiddie County for the teamwork involved in making this project a reality.

This project stands as a pivotal endeavor for our region, bridging two of our rural communities and injecting vitality into our economic landscape,” said Keith Boswell, President and CEO of Virginia’s Gateway Region Economic Development Organization. “By reintroducing a mining operation, we’re not only diversifying our manufacturing economy, but also showcasing the versatility of our region. The collaboration with our partner communities underscores the strength of our collective regional assets and reaffirms our commitment to sustainable growth and revitalization.”

As we learned during the pandemic, the supply chain can be fragile, with cascading effects across all sectors of the economy when they become disrupted,” said Senator Lashrecse Aird. “I am proud of the work VEDP has done to help bring this investment to Senate District 13. This project will bring good paying jobs to the region while simultaneously strengthening our domestic supply chain — a true win-win.” 

It is exciting news that once again an international company will be returning to Sussex and Dinwiddie Counties to continue the work and bring back the jobs that vacated almost a decade ago. Atlantic Strategic Minerals has already put several of the former company’s employees back to work at much higher wages than they had been receiving in the interim,” said Delegate Otto Wachsmann. “This returning industry will also be re-kindling the supportive industries such as trucking and heavy equipment operation/repair. I would like to commend Atlantic Strategic Minerals and the Virginia Economic Development Partnership for working with our counties and Virginia’s Gateway Region for bringing this much needed industry back to our area.”

Atlantic Strategic Minerals (ASM), founded in 2020, is an emerging critical minerals producer, focused on bringing its existing, Virginia-based mining and mineral processing infrastructure back to life. With its corporate office in the City of Petersburg, Va., ASM’s local, experienced team delivers value to all stakeholders with its goal to rebuild U.S. domestic supply chains of critical minerals. ASM owns a mineral separation facility and a concentrator plant in Sussex County, Va., and a mine in Dinwiddie County, Va.  

The Virginia Economic Development Partnership worked with Dinwiddie County, Sussex County, and Virginia’s Gateway Region to secure the project for Virginia and will support ASM’s job creation through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens.  

Source: https://www.vedp.org/



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