31 C
Supported byspot_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

CATL explores $1.5 billion fund to boost global battery supply chain

China's Contemporary Amperex Technology (CATL), the world's largest electric vehicle battery manufacturer, is in discussions with overseas sovereign wealth funds and private offices of...

Securing Europe’s critical raw materials: Addressing funding challenges for sustainable extraction

Bernd Schäfer, CEO of EIT Raw Materials, advocates for substantial investment in Europe's mining sector following the implementation of the Critical Raw Materials Act...

Strengthening global sustainability: The SCMA and critical minerals for climate goals

Canada's Minister of Energy and Natural Resources, Jonathan Wilkinson, together with Sweden's Minister for Energy, Business and Industry, Ebba Busch, announced Sweden's accession to...

Nickel mining and the green energy challenge: Balancing supply with environmental responsibility

Nickel is poised as a critical element in the global shift towards green energy, yet its extraction poses significant environmental challenges, recently highlighted by...
Supported by
Supported by
Supported by
error: Content is protected !!