Abstract

Small, unevenly financialized companies are now shaping the development of new cobalt and nickel processing plants in the United States (U.S.). as the country seeks to secure its critical mineral supplies. Building on political ecology theories, this article develops the concept of startup extractivism, defined by three core characteristics: (1) structure: young companies with small teams, (2) economic model: growth based on venture capital without a product, and (3) mindset: hard work and informality as represented by the founding entrepreneur figure. Building on these characteristics, these companies present a solution to significant geopolitical and geo-economics challenges – namely the industrial and military securitization of the U.S. against China's dominance. Based on desk analysis and interviews of six companies currently developing cobalt and nickel operations in the U.S., this article introduces the concept and points to the limitations and weaknesses of startup extractive firms. In parallel, it also addresses continuities as these firms, faced with the realities of critical minerals developments in the U.S., create complex structures of foreign sourcing, reiterating structural vulnerabilities. Finally, I conclude by suggesting avenues for research, building on the potential for a compounding of socioecological abuses based on startup extractivism's core features – youth, leanness, flexibility, and politicization.

Keywords: critical minerals, cobalt, extractivism, nickel, low-carbon transitions, startup

How to Cite:

Deberdt, R., (2026) “Startup extractivism: The political ecology of critical minerals processing in the United States”, Journal of Political Ecology 33(1): 8684. doi: https://doi.org/10.2458/jpe.8684