U.S. House may vote on Rare Earths Act this week

Mineweb ^ | 27 Sep 2010 | Dorothy Kosich

[epithermal]

Rare-earth metals have important defense applications because of their magnetic strength, which allows for miniaturization of components. A professional military journal, Joint Force Quarterly, has recently published a report asserting that "China appears to be holding an unlikely trump card" in its dominance of the REE industry.

The Pentagon is expected to release a report on the potential national security risks of rare-earth materials dependence next month.

The House Committee on Science and Technology Thursday approved the Rare Earth and Critical Materials Revitalization Act of 2010, which authorizes the U.S. Department of Energy to develop a rare earth materials program "that will restore a long-term, secure and sustainable supply of rare earth materials to meet the needs of the United States."

[1rudeboy]

The largest rare earth minerals mine in the U.S. is Molycorp's Mountain Pass mine in California (which is currently shut, I think).

[bkopto]

“The House Committee on Science and Technology Thursday approved the Rare Earth and Critical Materials Revitalization Act of 2010, which authorizes the U.S. Department of Energy to develop a rare earth materials program ‘that will restore a long-term, secure and sustainable supply of rare earth materials to meet the needs of the United States.’ “

What morons in the Congress! They are completely reactive, instead of having foresight and being proactive. Anyone with one quarter of a working brain could see China’s behavior coming from miles away. We let our rare earths mines and processing lapse because of environmentalists and processing costs, and outsourced the whole industry to the Chinese Communists. Congress lets the Greens run roughshod over the American people and our national interests, time after time after time, all for the sake of their stupid campaign coffers.

NOW, can we PLEASE do the same for energy independence and oil? OR, do we have to wait for yet another energy crisis to show up on our door step? MORONS.

[Yorktownpatriot]

Because he just “wants to celebrate another day of living”!

[mac_truck]

Molycorp (MCP) was up 4.5% yesterday, and has doubled in price in the last three months. I wonder how many members of Congress own shares?

[JimRed]

...the NIMBY group have aleady won that battle, just as they have won the battle to halt the mining of rare earths.

Is it time to start ignoring (or taking out) NIMBYs yet?

[Sacajaweau]

I have to admit I don’t know a lot about the rare earth metals but remember reading that China held the market.

[raybbr]

...authorizes the U.S. Department of Energy to develop a rare earth materials program "that will restore a long-term, secure and sustainable supply of rare earth materials to meet the needs of the United States."

Good idea. So we can stockpile RE's in the U.S. and then be able to ship the stuff to China to use in the manufacture of "stuff" for us to buy back from them.

Huzzahs all around.

[UCANSEE2]

IIRC (which is getting more unlikely ), The reason it was shut was that Importing from China was cheaper.

There may have been some political skullduggery (there always is), but I think this is one mine we could re-open.

The others, in the Escalante and Staircase are, now, untouchable.

[1rudeboy]

Well, you are incorrect. And I don’t think we ever mined rare earths in Escalante and Staircase.

[UCANSEE2]

ALBANIA!

Why Albania?

Why not Albania?

[mainsail that]

China is smart, they ban export of raw minerals so they can have a near monopoly on products using rare earth minerals. So you have to buy wind turbines, car batteries and the likes from China.

[expat_panama]

"...legislation in the future, geared toward restoring industries..."

LOL, that's like more flogging to restore morale.  

Nobody will ever make any money by voting for new laws that promise to raise dead business from their graves.  All we can do is start businesses, new business, once we're sure that congress is no longer 'helping' us.  

[Psycho_Bunny]

I said "restore", not "create".

I should have described that I meant restoration through repeal of laws and environmental policies - not through the creation of new laws. But I was posting via an iPhone and assumed FReepers would be in tune with my statement.

[expat_panama]

That's what Reagan campaigned on, the promise not for new laws or programs to solve things, but the promise to repeal bad laws and end bad programs that are causing the problems in the first place.

Hmmm, this party of 'no' has a lot to be said for it...