Victor Vescovo
👤 PersonAppearances Over Time
Podcast Appearances
They almost ran out of cash in April.
They only had $4 million of cash left on their balance sheet in April.
That's when they made the big pivot to the Trump administration to mine the seafloor without a permit from the UN regulatory agency.
Go America, go alone.
We're going to break China's strategic monopoly on metals.
But even Mr. Barron made a very good point.
He said, the reason China dominates all of these metal supply chains, which they do,
is because they dominate the processing of the metal.
They don't get the ore, the rock, from China.
They get it from Indonesia, they get it from other locations, and then they process it, and then they export it to us and other countries.
How do you break the Chinese dominance of the metal supply chain?
I'm here to tell you it would be extremely hard and very expensive.
Let's take nickel, for example.
Nickel is now primarily mined in Indonesia, and it's now processed in Indonesia.
And those processing facilities are heavily financed by China.
That's how China secured the nickel supply chain.
It kind of owns it with Indonesia.
Between Indonesia and China, those countries have five times more people than the United States.
They have a very low labor cost structure.
They've been processing nickel for 30 years.