Global mining companies are moving to bring in retired U.S. military generals. As the U.S. Ministry of National Defense pours billions of dollars into reshaping supply chains for strategic minerals such as rare earths and tungsten, demand has grown for ex-military strategists versed in Washington politics and the defense procurement structure.
According to the Wall Street Journal (WSJ) on the 1st, over the past year core mineral corporations have appointed at least a dozen retired U.S. generals to C-suite roles. These former generals and colonels complement management teams previously centered on geologists and finance experts, while advising on Washington's policy environment and the Ministry of National Defense's decision-making structure.
Almonty Industries, a North America–based tungsten miner, last year brought retired U.S. Army four-star general Gustave Perna onto its board and named retired brigadier general Stephen Allen as chief operating officer (COO). Perna served as overall lead for the federal vaccine development project during the COVID-19 pandemic and is known as a logistics expert, having previously worked at the U.S. military's Iraq Command and the Defense Logistics Agency (DLA).
Rare earth company MP Materials, United States Antimony, and Critical Metals are also adding retired generals to their boards and advisory bodies. In 2024, MP Materials added retired General Richard Myers to its board, and United States Antimony likewise brought retired four-star General Jack Keane onto its board in Aug. last year. Critical Metals, which is developing a rare earth mine in Greenland, has also appointed a retired four-star general and a Navy admiral as advisors.
As industry demand has driven up their value, placing them in key posts is known to cost no small expense. Retired General Richard Myers, who joined MP Materials' board in 2024, reportedly received about $240,000 (about 350.9 million won), including pay and stock options. Compensation per board seat runs as high as several hundred thousand dollars.
Still, corporations say it is worth the investment given the potential for defense contracts and government support. Critical Metals CEO Tony Sage said, "People who have worked at the Pentagon (Ministry of National Defense) know how the system works," adding, "Miners are an unknown world."
In fact, United States Antimony won a $245 million Ministry of National Defense contract just a month after bringing in Keane last year. While General Keane did not directly participate in the deal, the company's position is that his mere presence increased its access to Washington. CEO Gary Evans said, "We are pursuing multiple subsidy applications, and his experience and network are a big help in setting direction."
Government funds are also supporting this trend. MP Materials began receiving Ministry of National Defense funding in 2020, and the Pentagon recently announced a project to invest hundreds of millions of dollars to build rare earth magnet production facilities. Analysts say the role of defense and security experts who can connect mining companies with the military authorities is becoming increasingly important as contracts with the Ministry of National Defense expand.
Some also say their very presence has become a competitive edge. For early-stage corporations, capital-raising capacity determines survival, and the presence of military figures can serve as a decisive signal for attracting investment. For example, USA Rare Earth, a rare earth startup, secured up to $1.6 billion in investment from the Department of Commerce, and a retired U.S. Army general has reportedly served on its board since 2020.
Chris Berry, a partner at Washington mineral consultancy House Mountain Partners, said, "Even the impression that you have a network that can access the Pentagon differentiates a company from competitors," adding, "It's a strategy for junior miners to survive."
Ex-military figures are expanding their activities under the banner of "de-China." They say their raison d'être is to reduce dependence on China for critical minerals and help the United States and the West achieve strategic self-reliance. General Keane, a United States Antimony board member, said, "My value lies in helping corporations understand how the Ministry of National Defense moves," while adding, "I only contact stakeholders and offer advice; I do not engage in direct lobbying."