M2i Global, Volato announces MOU with Nimy Resources

Volato Group (SOAR) and M2i Global (MTWO) announced that Nimy Resources and M2i will collaborate with the aim of forming commercially binding contract terms for the respective sale and purchase of gallium production. Currently, the United States has no domestic production of primary gallium metal and relies on imports for 100% of its supply. A significant portion of these imports come from China, which has suspended its ban on exporting gallium to the U.S. until November 2026, but the materials remain subject to broader export controls that require shippers to obtain licenses from Beijing. As the United States works to develop its own domestic gallium production capacity, sourcing gallium from non-Chinese suppliers is critical to advance national security and supply chain resilience for the energy, defense, and semiconductor sectors. The non-binding MOU outlines the mutual intent of Nimy and M2i to collaborate on the development and supply of gallium from the Mons Project in Western Australia, which hosts a near-term JORC compliant gallium resource alongside other critical minerals, including rare earth elements. The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves. The agreement is limited to the Mons Project and does not encompass other Nimy assets. Nimy and M2i will commence due diligence and negotiations towards a binding offtake agreement, with a focus on finalizing commercial terms, including pricing, quantity, and delivery logistics. Nimy remains committed to advancing the Mons Project, including securing necessary permits and funding, to meet the timelines outlined in the MOU.