On April 22nd 2020, MP Minerals was awarded a DOD contract that will rapidly expand production of rare earth minerals in the U.S.
President Trump,through the DOD and EPA, has made production of this class of materials a national security priority.
The Mountain Pass Mine was once the world leader in rare earth production. After many years as an EPA Superfund site, it has been reclaimed, new technology employed and in production.
This contract just announced is only Phase 1 in the drive to make the US self-reliant for the vital minerals.
Not sure if that's a good way to build a "domestic" supply chain.
The Defense Appropriations Act is the counter to the Chinese ownership.
Hillbilly sage wrote:
“On April 22nd 2020, MP Minerals was awarded a DOD contract that will rapidly expand production of rare earth minerals in the U.S.
President Trump,through the DOD and EPA, has made production of this class of materials a national security priority.
The Mountain Pass Mine was once the world leader in rare earth production. After many years as an EPA Superfund site, it has been reclaimed, new technology employed and in production.
This contract just announced is only Phase 1 in the drive to make the US self-reliant for the vital minerals.”
Hamiltonian wrote:
“The real head scratcher in that this week’s DOD set of awards is that one selectee (MP) has Chinese ownership and the other (Lynas) is based on ore that is produced in Australia and extracted in Malaysia before it would get to the U.S.
Not sure if that’s a good way to build a “domestic” supply chain.
Everything produced at this mine should go into the national stockpile, not be used in commerce. Have a couple of years of normal demand in reserve, then begin sales.
For tha matter, since oil is so cheap and our oil companies need sales to keep employees on, I hope that we have been buying massive quantities for our national stockpile.