Helene catastrophe might create downstream disaster for tech industry Oct. 04, 2024 7:00 AM ET By: Brandon Evans , SA News Editor [Seeking Alpha]
Intel Corporation (INTC)
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Source: Seeking Alpha
This town, which measures just 3.9 square miles, contains the planet's purest quartz, a vital component for semiconductor production. The devastation wreaked upon the region from Hurricane Helene has shut-in production from these quartz mines for an indefinite amount of time, which could lead to supply constraints in the near future. "It's home to a particularly pure type of quartz," said Dan North, a senior economist at Allianz Trade North America, in an interview with Seeking Alpha. "It's used to form the crucibles in which silicon is formed for all kinds of electronics: wafers, chips, solar panels, fiber optic cables, smartphones, everything." The Quartz Corporation, headquartered in Norway, and Belgium's Sibelco, are the two mining operators in Spruce Pine. Collectively, the quartz these two companies produce accounts for 85% of the market share for semiconductors. It's unknown at this time when production will resume. Production shut-in "Operations at our facilities wer
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