Micron Invests in Indium Corp. to Expand U.S. Critical Minerals Processing

Micron Technology (MU) announced Tuesday it has invested in materials manufacturer Indium Corp. to expand critical minerals processing in New York and secure supplies for semiconductor production. Financial terms were not disclosed. The investment supports expansion of Indium's refining and high-purity materials operations in Rome, New York, helping restart domestic processing of minerals used in advanced chipmaking. The companies also signed a long-term supply agreement giving Micron access to Indium's high-purity minerals. The deal is part of Micron's previously announced plan to invest up to $3 billion in the U.S. semiconductor supply chain, aimed at reducing reliance on concentrated global refining capacity. It complements Micron's plans to invest more than $250 billion in U.S. manufacturing and technology through 2035, including its New York fabrication complex. Micron shares fell 2.81 percent to $879.51 in pre-market Nasdaq trading after closing Monday's session 2.97 percent higher.