It’s a well-known fact that China has a strong hold over the current supply chain for rare earth elements that make up critical technologies like EVs, cellphones, and military equipment, to name a few. But beyond simply stating that we need to shift our reliance away from China and begin building robust domestic supply chains, what are the tangible, actionable steps that will get us there?
An ongoing issue in our existing REE supply chain is that we can mine the materials, but then there is a lack of infrastructure when it comes to processing. As a result, much of our REE is still sent to China for processing, and until we can address this chink in the chain, we will not see a completely secure and resilient national supply chain for REE. Beyond addressing our mining and processing capacity, something else to consider is continually working to develop our industry expertise.
Governments must focus on developing regulatory frameworks that strike a balance between upholding stringent environmental standards and expediting approval timelines through adopting digital platforms and concurrent review processes.
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