The National Mining Association (NMA) has applauded President Joe Biden’s Executive Order on America’s Supply Chains, which contains directives that are specific to the US’ domestic minerals supply chains and recognises the key role that minerals play in securing the availability of critical and essential goods and materials.
“We can’t import our way to economic and national security; we have to establish that security literally from the ground up by using American-mined materials produced by American workers under world-leading environmental standards,” said Rich Nolan, NMA President and CEO. “The President clearly recognises the threat and is acting to protect against the exposure that exists in our energy, national security, manufacturing and medical supply chains given our overreliance on imports for the building blocks of these key industries.”
According to the USGS’ Mineral Commodity Summaries 2021, US import dependence for key mineral commodities has doubled over the past two decades with the US now 100% import-reliant for 17 key minerals and more than 50% import-reliant for an additional 29 key mineral commodities. That import reliance exists despite the fact that the country has significant mineral deposits of some of these commodities within its borders. US mineral import reliance continues to increase just as mineral demand from essential industries – such as energy and transportation – is expected to soar. The World Bank sees mineral demand for advanced energy technologies jumping 500% by mid-century.
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