Posted on 11/21/2020 9:19:03 PM PST by cba123
MP Materials, which operates the largest rare earth element mines in the Western Hemisphere, had a big week.
It was one of three companies on Nov. 17 to receive Defense Department grants intended to return rare earth production to the United States. The following day it was listed on the New York Stock Exchange.
The Pentagon awarded a Defense Production Act Title III grant worth $9.6 million to MP Materials so it can begin to refine the strategic minerals at its Mountain Pass, California, mine.
“This grant from the DoD is outstanding. It's humbling. And we're very proud of the fact that DoD is supporting us,” James Litinsky, the company's CEO, told National Defense in an interview.
The Mountain Pass mine is the largest producer of rare earth elements in the Western Hemisphere and constitutes 15 percent of the world’s production of the minerals, which are essential to manufacture high performance magnets. China currently has a near monopoly on refining the elements and producing the magnets, which are used in a variety of weapon systems as well as commercial goods such as wind turbines and electric vehicles.
On Sept. 30, President Donald Trump signed Executive Order 13817, which — among other items — seeks to return rare earth production to the United States and break China’s dominance over the supply chain.
(Excerpt) Read more at nationaldefensemagazine.org ...
Thank you, President Trump.
I suspect that rare earth elements are dispersed fairly equally over large land masses, which leads me to believe that North America has its fair share. Given the trade situation and use of slave or near slave labor in China, I can also understand how it is not very profitable to mine in the US.
Definitely a solvable problem as long as Biden (CCP) is not President.
After Biden takes office the EPA will have them shut down in a heart beat
$9.6 million is pocket change for the pentagon.
Seems like some large unexplored areas in Alaska due to federal lands. Probably the same is true out west, but to a lesser degree.
Exploring the world over...
FLASHBACK: Largest known rare earth deposit discovered in North Korea May 29, 2019
Looks like Kim has found a way to build those vacation beach condos.
This is one of the things that Trump got done because his idiot predecessors failed to even try.
P4L
and break China's dominance over the supply chain..
Biden family crapping their pants as Hunters
deals slides from their slimy crooked fingers!
Doesn’t look very rare when looking at that map.
I think they have to send the ore to China to get it processed at least for a couple of year until they can process it here..?..
[Mining Company Determined to Restore U.S. Rare Earth Supply Chain (Updated)]
I...just want to celebrate.
The real largest mine was sealed over by B Clinton at behest of his Indonesian friends and turned into a national reserve/park/refuge - was in the Dakotas as I recall - was site of extinct super volcano I think
A major part of that is the environmental impact of processing REE's. China doesn't hamstring itself with environmental stuff. Therefore China does it cheaper and quicker. Therefore China does most of the REE for the west.
The political left fights every time we process REE here.
Under biden, the left will do all in their power to squash any domestic RE production in order to keep the US dependent on China for its resources.
Seems US has plenty for their own use.
Best not to export those minerals
And the best way not to export is to manufacture in the USA the tech the rare earths are used.
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