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The United States plans to spend big on essential minerals; Choosing where is not easy

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As the United States and its allies pursue China for minerals essential for modern technology, it faces a major hurdle: the lack of companies and projects with established track records.

The United States has pumped millions of dollars into research on how to extract rare earth minerals from abandoned coal deposits, an approach that some say will not work. The Pentagon has invested in a US manufacturer of rare earth magnets that buys many of its products from China. Canada invested in a 21-year-old mining company that never operated and ceded an option to control its main asset to a company run by the chief executive’s son.

We had questions about many companies regarding their claims and what they were doing, said Drew Horn, a former senior official in the Department of Energy, the White House and the Office of the Director of National Intelligence specializing in critical minerals. . during the Trump administration.

The United States and other Western governments are rushing to secure national supplies of materials, including rare earths, lithium and boron, which are essential for the growth of technologies such as electric vehicles, satellites and wind turbines. . They also want to develop the ability to treat them.

The Senate this month approved a bipartisan $ 250 billion bill to increase government spending on research and technology development to catch up with China, including funds for the extraction and processing of essential minerals at home. them and with allied countries.

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