In 2021 after Biden took office, he appointed a team to study critical supply chains and vulnerabilities for America. After 100 days, the team reported that the top 4 categories where we are most vulnerable are: semiconductors, large-scale batteries, pharmaceuticals, and rare earth elements.
Rare earth elements are required for making all electronics, semiconductors, EV batteries, industrial magnets, and a host of other products we use in our every day lives. Today, China accounts for 63 percent of the world's rare earth mining, 85 percent of rare earth processing, and 92 percent of rare earth magnet production. This is a critical supply chain risk for American industry and American consumers.
So the recent announcement by US Critical Materials of a major geological find of rare earth elements in Sheep Creek Mine in Montana is awesome news.
To learn more about rare earth elements and U.S. Critical Materials, contact [email protected] and Rosemary Coates.
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