Concern for US, EU supply chain shortfall in strategic metals

In the process of introducing The Rare Earths Supply-Chain Technology and Resources Transformation Act of 2010  representative Mike Coffman pointed out that China currently produces over 97% of the global rare earth materials. With no mining taking place in North America and the worldwide demand for rare earths growing exponentially, Coffman alerted the US House of Representatives to the looming crisis that could be warded off if the US acted immediately. He said that the nation had the resources but lacked the ability to extract and process them.

On June 22, US Senator Lisa Murkowski introduced legislation to promote the same concept and help the US regain its leading position in the rare earth production sector. She said, ” We have slowly but surely surrendered the front end of the clean energy supply chain. Unless action is taken, we will trade our current dependence on foreign oil for an equally unsettling dependence on foreign minerals.”

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