Stockpile of rare-earth metals down to 4% of Cold War-era value, Moulton urges action

[Yo_Mama_Been_Loggin]

After decades of selloffs, the nation’s strategic stockpile of some hard-to-source materials is just 4% of what it was in 1989 and that’s a danger to the nation, according to two U.S. representatives urging Congress to move on administration plans to boost spending.

“America can no longer be content to rely on other countries for resources that are essential to our military and technological edge,” U.S. Reps Seth Moulton, D-Mass., and Scott Franklin, R-Fla., said in a joint letter to the appropriations committee urging support for an additional $253 million in spending on the materials in the next budget year.

“The post-Cold War sell-offs of the National Defense Stockpile are no longer appropriate — and now they are dangerous. Bolstering funding for the NDS will ensure that China and Russia will not dictate where, when, or how we access important critical minerals,” the congressmen wrote.

Established during World War II, the NDS is supposed to ensure the military can access hard-to-source materials during supply chain shortages, which may occur during or due to global conflict.

https://www.msn.com/en-us/money/news/stockpile-of-rare-earth-metals-down-to-4percent-of-cold-war-era-value-moulton-urges-action/ar-AAWOHVp

[Hoyt]

1. One has to ask why something hasn't been done before?

[keep_left]

2. The Chinese have been reducing export quotas for years...

...you would think we would have learned our lesson by now. I thought that states like CA and NV were supposed to have restarted rare-earth mining already, but maybe not. And it's not just defense production that needs this stuff (materials like samarium), it's everything from windmills to hybrid cars...even things like guitar pickups and microphones!

[hlthe2b]

3. Pretty soon I'm going to have to hire private security to protect my catalytic converter on my Prius

(kidding... sort of)

But, mine is now registered in an international anti-theft registration database to make it hard to sell. So...

[keep_left]

4. That's most likely platinum or palladium...

...in your catalytic converter. Supposedly the hybrids are being targeted because their converters are "cleaner" since the gasoline engine runs a lot less. It is true that the platinum or palladium in converters is worth serious money (often more than gold). The rare-earth elements (samarium, neodymium, etc.) are actually not that rare, they're just a real PITA to extract. There are some unusual chemical methods that have to be used, similar to techniques used in nuclear reprocessing.

The rare-earths are needed for very powerful magnets in the motors/generators used in hybrid cars, wind turbines. etc. They have a lot of other uses as well.