TMR: REEs are often called "critical" or "strategic" metals. Is it possible that Western governments, and the U.S. in particular, could decide that Chinese supply cannot be counted on, so domestic supply must be guaranteed?
RC: I think that is certainly a possibility, and there have been some developments in that direction. A number of legislative proposals have been put forth to Congress to address to the U.S.' supply risks and to support the development of domestic REO production. For example, in June 2013 the U.S. House of Representatives passed the "National Defense Authorization Act for Fiscal Year 2014 (H.R. 1960)" that forces the U.S. Department of Defense (DOD) to develop strategies for mitigating REO supply chain risks. [View source]
In September 2013, the House passed the "National Strategic and Critical Minerals Production Act of 2013 (H.R. 761)," which aims to streamline the federal permitting process for domestic exploration and development of critical and strategic minerals.
REEs are called critical and strategic metals for good reasons. They're at the heart of new automotive technologies, a lot of aerospace technologies, and they play out an important role in certain healthcare applications.
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