LUTNICK ANNOUNCES INVESTMENT TO BOOST SEMICONDUCTOR PRODUCTION IN NORTH CAROLINA

What happened: US Commerce Secretary Howard Lutnick announced a new investment by Sibelco, an industrial minerals mining and processing company, in North Carolina to support semiconductor production. Key numbers: Lutnick said the investment would be worth "hundreds of millions of dollars" but did not share details. Announcement dated Oct 20. Why it matters: Lutnick described the planned silicon and quartz manufacturing as "basically the foundation of semiconductors," tying the investment to the semiconductor supply chain.

US Commerce Secretary Howard Lutnick announced a new investment by Sibelco, an industrial minerals mining and processing company, in North Carolina to support semiconductor production.

Lutnick described the planned silicon and quartz manufacturing as "basically the foundation of semiconductors," tying the investment to the semiconductor supply chain.