The U.S. in 2016 was reliant on imports for 23 minerals including cobalt, lithium, graphite and rare-earth elements, according to a report released this week by the Department of the Interior. The U.S. was most reliant on China, which supplied the world’s biggest economy with at least 20 critical minerals, the report said.
The move could “open up new avenues of growth,” said Andrew Cosgrove, senior energy and mining analyst at Bloomberg Intelligence. Companies may be less inclined to “seek out properties in foreign countries.”
“This executive order will prioritize reducing the nation’s vulnerability to disruptions in our supply of critical minerals safely and responsibility for the benefit of the American people,” Trump said in the statement.
Story by by Susanne Barton.