1.3 C
Belgrade
Supported byspot_img
spot_img

Global initiatives for critical raw materials: Perspectives from the US, UK, and Japan

Member of Europium Groupspot_img
Supported byspot_img

Amidst growing concerns over the dependence on imports of Critical Raw Materials (CRMs), countries worldwide are taking proactive measures to secure their supply chains and enhance domestic production. Here’s a snapshot of strategies employed by the US, UK, and Japan:

US Strategy on CRMs: The US Department of Defense (DoD) employs various actions under the Defense Production Act Title III to ensure timely access to essential domestic industrial resources. Initiatives include investing in domestic processing of Light Rare Earth Elements (LREE) and funding research for new processing technologies.

UK’s Critical Minerals Strategy: The UK aims to bolster supply chain resilience and diversity through increased domestic production and collaboration with international partners. Strategies encompass extraction of tungsten and lithium domestically, along with promoting circular economy practices to alleviate pressure on primary supply.

Supported by

Japan’s Approach to CRMs: Japan prioritizes economic security through measures such as the Economic Security Promotion Act, which emphasizes diversification of CRM supply chains away from China. The establishment of the Japan Organization for Metals and Energy Security (JOGMEC) and investments in mining companies like Lynas Rare Earths Ltd. exemplify Japan’s commitment to ensuring a stable CRM supply.

These initiatives underscore a global recognition of the importance of CRMs and the need for strategic action to mitigate supply chain vulnerabilities and foster economic resilience.

Supported byElevatePR Digital

Related News

Pan Asia Metals expands Rosario copper project with new exploration concessions in Chile

Pan Asia Metals has taken a significant step forward in its development strategy with the acquisition of additional exploration concessions adjacent to its high-grade...

Zijin Mining faces violent conflict and theft in Colombia’s Buriticá gold mine

Zijin Mining Group, China’s state-owned mining giant, is embroiled in a fierce battle against local armed groups and illegal miners in Colombia’s gold-rich Antioquia...

Arras Minerals set to launch copper and gold drilling in Kazakhstan in 2025

Canadian mining company, Arras Minerals, plans to start active drilling in the first half of 2025, targeting copper and gold deposits in Kazakhstan’s Pavlodar...

China’s strategic growth in the DRC’s copper and cobalt mining industry

The Democratic Republic of the Congo (DRC), home to 15% of the world’s copper reserves and over 50% of its cobalt, represents a prime...
Supported by
Supported by
Supported by
error: Content is protected !!