Micron Announces Investment in New York Critical Minerals Processing With Indium Corporation
Micron executes part of its $3 billion U.S. supply-chain plan by funding Indium Corporation's New York operations and signing a long-term supply agreement to secure domestic critical minerals.
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Micron Technology, Inc. (Nasdaq: MU) announced on October 20, 2026, that it will provide strategic funding to materials science company Indium Corporation to support the expansion of its refining and manufacturing operations in Rome, New York. The move aims to restart domestic processing of critical minerals essential for advanced semiconductor manufacturing.
Under the agreement, the two companies will enter into a long-term supply arrangement giving Micron access to high-purity minerals. This action is part of Micron's plan, announced in July, to invest up to $3 billion to strengthen the U.S. semiconductor supply-chain ecosystem and secure a reliable domestic supply of critical manufacturing materials.
Ben Tessone, Senior Vice President and Chief Procurement Officer at Micron, stated that advanced memory manufacturing depends on a reliable supply of critical minerals. He noted that partnering with Indium Corporation expands U.S. capacity for critical minerals production and builds a more resilient supply chain for American semiconductor manufacturing. The investment is expected to reduce reliance on concentrated global refining capacity, addressing a growing national security priority.
The announcement coincided with Micron's annual Supplier Awards event. New York Governor Kathy Hochul and U.S. Senator Charles E. Schumer welcomed the partnership, highlighting it as a step toward solidifying New York State's role as a key hub in the U.S. semiconductor supply chain.