U.S. needs more mines to boost rare earths supply chain, Pentagon says

Bioxytran

19/10/2021 20:57

By Ernest Scheyder
    Oct 19 (Reuters) - The United States and ally nations should
mine and process more rare earths to ensure adequate global
supply of the strategic minerals for military and commercial
uses, a U.S. Department of Defense official said on Tuesday.
    The remarks underscore the Pentagon's rising interest in
public-private mining partnerships to counter China's status as
the top global producer of rare earths, the 17 minerals used to
make specialized magnets for weaponry and electric vehicles
(EVs).    
    "We know we cannot resolve our shared exposure to supply
chain risk without a close partnership with industry," Danielle
Miller of the Pentagon's Office of Industrial Policy told the
Adamas Intelligence North American Critical Minerals Days
conference.
    "New primary production of strategic and critical minerals -
in a word, mining - is a necessity to increase resilience in
global supply chains." 
    Miller cited recent investments in U.S. rare earth projects
https://www.reuters.com/article/usa-rareearths/pentagon-awards-13-million-in-rare-earths-funding-to-u-s-projects-idINKBN27Y2F0
 under development by MP Materials Corp  MP.N , Urban Mining Co,
and a joint venture of Australia's Lynas Rare Earths Ltd
 LYC.AX  and Blue Line Corp as evidence of the Pentagon's desire
to be a "patient, strategic investor" in private industry.
    "Domestic production of strategic and critical materials is
the ultimate hedge against the risk of deliberate non-market
interference in extended overseas supply chains," Miller said, a
likely reference to China's hints it could curtail rare earth
exports https://www.reuters.com/article/us-usa-trade-china-rareearth/china-ready-to-hit-back-at-u-s-with-rare-earths-newspapers-idUSKCN1SZ07V
 to the United States.
    "We are under no illusions about the competing pressures
facing" the U.S. mining industry.
    Miller also said the Pentagon wants to help mining companies
in ally nations "create a common understanding of
sustainability." U.S. environmental standards for mining https://www.reuters.com/article/us-usa-mining-insight/to-go-electric-america-needs-more-mines-can-it-build-them-idUSKCN2AT39Z
 are among the tightest in the world.
    "We want to work with (miners) to accelerate the transition
from the lowest cost, technically acceptable sourcing, to one
that reflects our values," Miller said.

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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    urn:newsml:reuters.com:*:nL4N2R22O1
U.S. House bill would give tax credit for rare earth magnets    
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Energy Secretary Granholm says U.S. needs to produce more EV
minerals     urn:newsml:reuters.com:*:nL1N2L72PX
INSIGHT-To go electric, America needs more mines. Can it build
them?     urn:newsml:reuters.com:*:nL3N2KZ50D
EXCLUSIVE-USA Rare Earth to explore public offering at value
above $1 billion     urn:newsml:reuters.com:*:nL1N2K834R
Pentagon awards $30 mln in rare earths funding to Australia's
Lynas      urn:newsml:reuters.com:*:nL1N2K7341
Pentagon resumes rare earths funding program after review   
 urn:newsml:reuters.com:*:nL2N2ES1JC
Pentagon awards $13 million in rare earths funding to U.S.
projects     urn:newsml:reuters.com:*:nL1N2I41X1
INSIGHT-Mining magnets: Arctic island finds green power can be a
curse      urn:newsml:reuters.com:*:nL2N2KZ0OA
FACTBOX-Miners gear up global rare earth projects as prices
surge     urn:newsml:reuters.com:*:nL8N2KN43M
U.S. probes security impact of importing magnets used in fighter
jets, missiles     urn:newsml:reuters.com:*:nL1N2QQ24C
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 (Reporting by Ernest Scheyder; Editing by Richard Chang)
 ((ernest.scheyder@thomsonreuters.com; Twitter: @ErnestScheyder;
+1-713-210-8512; Reuters Messaging:
ernest.scheyder.thomsonreuters.com@reuters.net))