US Mining Reforms Critical to Energy Security

One of the challenges in the US energy sector is its rapidly growing dependence on foreign governments for goods that are critical to economic growth and national security. Back in the mid-1950s, the United States relied entirely on foreign sources for just 8 minerals. Today that number has more than doubled to 20, most importantly including the elements of the rare earth metals, manganese and niobium. Over the past 20 years, dependence on foreign minerals has doubled.

The US spent $ 7-8 billion a year on these imported minerals, and the costs will only go up. There are 17 rare earth elements, and their price can grow 5-6 times in one year. For example, the price of lithium and cobalt - important for lithium-ion batteries - continues to rise. Global lithium demand for electric cars, smartphones and tablets is expected to double or triple by 2020. Not just for batteries, computer chips, and satellites, many of these minerals are critical to needed technological improvements for more wind turbines and solar panels.

Both the USGS and the CIA are alarmed by this excessive foreign dependence on these strategic goods.

Of course, China is aware of the growing importance of these minerals, so they are accumulating their own reserves, which leads to problems with the World Trade Organization. China's influence in the field of minerals is enormous. The influence of Saudi Arabia on the world oil market is also great. China as a whole accounts for 80-90% of rare earth production (including almost all "heavy" rare earth elements). China still produces almost 8 times more rare earth minerals by volume than Australia, which has the second place.

There is currently only one active lithium mine in the United States at Silver Peak in Nevada (it is actually the only one in North America). And there is an echo of the desire to give mining companies greater access to mineral resources on public lands in the western United States. The good news is that mineral reserves are estimated at $ 6-7 trillion.

Beginning about a decade ago, the American shale oil and gas revolution characterizes how quickly the United States can increase its self-sufficiency in vital commodities.

“There is no reason why we cannot do the same with minerals and rare earths,” which will not only increase our own energy and national security, but also our environmental safety, which will lead us to a low-carbon future. The race of the future energy and technological world requires us to