Lutnick announces investment to boost semiconductor production in North Carolina

U.S. Secretary of Commerce Howard Lutnick speaks to the media outside the U.S. District Courthouse in Washington, D.C., U.S., August 27, 2026. REUTERS/Evelyn Hockstein/File Photo

Oct 20 (Reuters) - ⁠US Commerce ⁠Secretary Howard Lutnick on ‌Tuesday announced a new investment in North Carolina ​by Sibelco, an ⁠industrial minerals ⁠mining and processing company, ⁠to ‌support semiconductor production.

"We're ⁠announcing Sibelco is going to ​build ‌silicon manufacturing. It's quartz ⁠manufacturing. ​It is basically the foundation of ⁠semiconductors," he said ​during a Trump rally in North Carolina.

He ⁠did not share details but said the investment would be ​worth "hundreds ⁠of millions of dollars."

(Reporting ​by Jacob ‌Bogage and ​Nandita Bose; Editing by Christopher Cushing)