Critical Minerals: U.S. Government Funds Research Hub

by | 4. Apr 2024 - 09:47 | Politics

The $75 million facility will support other ongoing projects to diversify and bolster supply chains.

The United States Department of Energy (DOE) will invest $75 million into a critical minerals supply chain research facility. According to a press release, the project funded by the Bipartisan Infrastructure Law will support existing government initiatives, such as the Critical Materials Innovation Hub, to diversify and strengthen supply chains of critical minerals needed for advanced technologies and renewable energies, for example. Challenges the facility is set to address include helping to meet the growing demand for critical minerals and raw materials and reducing dependence on foreign sources.

The production of many critical minerals, such as rare earths, is currently in Chinese hands. Efforts to shift this dynamic are underway in the U.S. and Europe, for example, through the Export-Import Bank of the United States, which recently offered millions to companies developing rare earth projects in Australia and Brazil.

Western Efforts Are Not Going by Unnoticed

Industry leader China does not sit idly by, however. Beijing is continuously strengthening its expertise in the sector, for example, through a recently unveiled rare earth innovation center located in Baotou in the Inner Mongolia Autonomous Region, home to the world’s largest rare earth reserves and already home to ten research platforms for rare earth technologies. In addition, the People’s Republic is ramping up exploration efforts, announcing an eight percent higher budget for 2024 than last year.

Photo: iStock/JHVEPhoto

Starting Soon: Rawmaterials Newsletter

Subscribe now and stay up to date!

Subscribe Now!
Stay up to date with our brand new newsletter.
By subscribing, you agree that the data you enter will be transmitted to our e-mail tool rapidmail.