An excellent report has been published by the Congressional Research Service providing background on the strategic and critical minerals National Defense Stockpile (NDS) program managed by the United States Department of Defense.Highlights:
As of March 2023, the National Defense Stockpile contains $1.3 billion in total assets, including $912.3 million of stockpiled material.
As of April 2023, current NDS inventory mitigates less than half of estimated strategic and critical materials shortfalls for military requirements; less than 10% of essential civilian demand shortfalls; and approximately 6% of total net shortfalls in “base case” national emergency scenarios. The vast majority of the $13.5 billion gap between current stockpile assets and current stockpile requirements would support nondefense critical infrastructure demand in the event of an attack on the United States.Overreliance on foreign entities: In the 2021 stockpile requirements assessment, 53 materials were determined to be in shortfall and therefore “strategic and critical” in a congressionally mandated, classified armed conflict scenario involving China. 40 Of these 53 materials, according to the assessment, 37 have supply chains controlled by a “foreign market dominator” (i.e., more than half of global production occurs in a single foreign country). Twenty-nine of 53 materials have one domestic provider qualified to meet military or essential civilian requirements (as of June 2021), according to the assessment, and an additional 18 materials “have no domestic production at all.It is clear that the U.S. needs to tackle barriers to domestic production; incentivise greater onshoring; invest in research, development and skills; and limit unfair competition within the market as a matter of national security. #criticalminerals #supplychains #nationaldefense #USA #criticalmaterials #strategicmetals Full report here | https://lnkd.in/edPsc55q
https://crsreports.congress.gov/product/pdf/R/R47833
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