February 13, 2024
The United States faces deep, ongoing vulnerabilities in its mine...
The U.S. Commerce Department on Tuesday recommended urgent steps to boost domestic production of rare earths and other critical minerals, warning that a halt in Chinese or Russian exports could cause “significant shocks” in global supply chains.
The report includes 61 specific recommendations – including low-interest loans and “Buy American” requirements for defense companies – to boost domestic production of minerals essential for the manufacture of mobile phones and a host of other consumer goods, as well as fighter jets.
It also called for closer cooperation with allies such as Japan, Australia and the European Union, and directed reviews of government permitting processes to speed up domestic mining.