US to support new mines that avoid ‘historical injustices’, Biden says
Biden's comments on Tuesday were the clearest to date about the rubric administration officials deploy when determining whether or not to support a proposed US mining project.
Trump invoked the 69-year-old Defense Production Act -- once used to preserve American steelmaking capacity -- to remedy what he called “a shortfall” in production of the super-strong magnets made with neodymium and samarium.
The Pentagon wants miners to describe plans to develop U.S. rare earths mines and processing facilities, and asked manufacturers to detail their needs for the minerals.
Exports of the group of 17 chemical elements used in everything from high-tech consumer electronics to military equipment came in at 3,966 tonnes last month.
Rising trade tensions between the United States and China have sparked concerns that Beijing could leverage its dominant position as a supplier of rare earths.