The latest list released by the U.S. Geological Survey contained 15 more commodities than the first list of important minerals produced in 2018. This list has been officially updated after a draft was published in November.
The list is designed to act as a trigger for government initiatives to improve domestic production and supply diversity of important minerals. In practice, this could unlock government support for minors and sophisticated businesses within the United States.
The 2022 list added nickel and zinc to the catalog and removed helium, potassium, rhenium and strontium. The new list also included aluminum, cobalt and rhodium. We have also split the rare earth and platinum group elements, including platinum and palladium, into individual entries. #
Classifying rare earth elements into separate categories confirms the US government’s particular focus on increasing domestic production of magnetic rare earths, including neodymium and dysprosium.
Nickel was included on a “single point of failure” basis. According to the USGS, this single point of failure classification is because there was only one refinery in the United States producing crystalline nickel sulfate.
Zinc was added due to the increasing concentration of global mine and smelter production.
Copper is not included in the new list because it is produced in the United States.
“Domestic production will ease [copper’s] Supply chain vulnerabilities. [However] “Copper supply risks have increased in recent years and deserve attention,” the USGS said.
“Critical minerals play a vital role in national security, the economy, renewable energy development, and infrastructure,” said Tanya Trujillo, Under Secretary of the Interior for Water and Science.
“USGS data collection and analysis scans the problem horizon in critical supply chains every three years to identify the country’s current vulnerabilities to potential disruption,” the agency said. increase.
The updated list is based on directives from the Energy Act 2020. This indicates that the Home Office should review and update the list of important minerals at least every three years.
A critical mineral is defined by the USGC as performing an essential function in the manufacture of a product, the absence of which could have significant economic and national security implications.
According to the USGS, U.S. reliance on imports and concentrations in mining and mineral processing are all continuing to increase, supply chains are becoming more globalized and more vulnerable to trade conflicts, pandemics and other concerns. It’s becoming clearer.
Helium, potassium, rhenium and strontium have been removed from the list.