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Baystreet.ca - The U.S. is Being Forced to Secure Rare Earth Outside of China


The U.S. is Being Forced to Secure Rare Earth Outside of China
The world is in desperate need for rare earth supply outside of China. Not only is the U.S. trying to new supply, Europe is in desperate need, too. In fact, according to the South China Morning Post, “In a speech touting the bloc’s ‘industry strategy’ this week, European Commission President Ursula von der Leyen pointed to the scarcity of raw materials needed to power the switch to electric vehicles and green energy sources, much of which are buried in China.”
“We import lithium for electric cars, platinum to produce clean hydrogen, silicon metal for solar panels,” she added. “Ninety-eight per cent of the rare earth elements  we need come from a single supplier: China. This is not sustainable. So we must diversify our supply chains.” ....

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To boost microchip production in U.S., Biden looks for supply chains weaknesses


President Biden
Though the impact won t be felt immediately, President Biden answered urgent pleas from the automotive industry and other groups by directing a review of potential weaknesses in U.S. supply chains in an effort to address the global semiconductor chip shortage that has forced auto makers to cut back vehicle production.
Biden s executive order launched an immediate 100-day review of supply chains for four vital products semiconductor chips, large-capacity batteries for electric vehicles, critical minerals and strategic materials such as rare-earth elements, and pharmaceuticals. It also calls for an in-depth review of six industrial sectors including transportation, energy and information and communications technology within one year. ....

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