Pentagon seeks funds to reduce U.S. reliance on China's rare earth metals

[riversedge]

Didn't he Pentagon transfer some money for the Border Wall?? I seem to recall this but may be mistaken. Now they want more tax money--because of trumps tariff's!!


Business News
May 29, 2019 / 12:43 PM / a day ago
Pentagon seeks funds to reduce U.S. reliance on China's rare earth metals
Phil Stewart, Andrea Shalal

5 Min Read

WASHINGTON (Reuters) - The U.S. Defense Department is seeking new federal funds to bolster domestic production of rare earth minerals and reduce dependence on China, the Pentagon said on Wednesday, amid mounting concern in Washington about Beijing’s role as a supplier.

The Pentagon’s request was outlined in a report that has been sent to the White House and briefed to Congress, said Air Force Lieutenant Colonel Mike Andrews, a Pentagon spokesman.

Rare earths are a group of 17 chemical elements used in both consumer products, from iPhones to electric car motors, and critical military applications including jet engines, satellites and lasers.

Rising tensions between the United States and China have sparked concerns that Beijing could use its dominant position as a supplier of rare earths for leverage in the trade war between the world’s top two economic powers.

Between 2004 and 2017, China accounted for 80% of U.S. rare earth imports. Few alternative suppliers have been able to compete with China, which is home to 37% of global rare earths reserves. ...............................

[Lochloosa]

1. And guess who sits on 1 Trillion dollars worth of Rare Earths...Afghanistan

https://www.nbcnews.com/science/science-news/rare-earth-afghanistan-sits-1-trillion-minerals-n196861

Despite being one of the poorest nations in the world, Afghanistan may be sitting on one of the richest troves of minerals in the world, valued at nearly $1 trillion, scientists say.

Afghanistan, a country nearly the size of Texas, is loaded with minerals deposited by the violent collision of the Indian subcontinent with Asia. The U.S. Geological Survey began inspecting what mineral resources Afghanistan had after U.S.-led forces drove the Taliban from power in the country in 2004.

[Chin music]

2. +1