Lutnick announces investment to boost semiconductor production in North Carolina

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