Pentagon aims to cut reliance on Chinese rare earths
May. 30, 2019 5:01 AM ETTexas Mineral Resources Corp. (TMRC), LYSCFLYSDY, NOPMFBy: Yoel Minkoff, SA News Editor
"The Pentagon is working to reduce U.S. reliance on Chinese rare earth minerals after recent trade war threats," according to spokesman Lt. Col. Mike Andrews.
The Defense Department is now seeking new federal funds to bolster domestic production, with China accounting for 80% of U.S. rare earth imports between 2004 and 2017.
It's not so much about the deposits, but more about their processing.
Efforts to build U.S. plants are still in the early stages and lack unified support from Congress and the Trump administration.
Related: OTCQB:TMRC, OTCPK:LYSCF, OTCPK:NOPMFPentagon aims to cut reliance on Chinese rare earths
May. 30, 2019 5:01 AM ETTexas Mineral Resources Corp. (TMRC), LYSCFLYSDY, NOPMFBy: Yoel Minkoff, SA News Editor
"The Pentagon is working to reduce U.S. reliance on Chinese rare earth minerals after recent trade war threats," according to spokesman Lt. Col. Mike Andrews.
The Defense Department is now seeking new federal funds to bolster domestic production, with China accounting for 80% of U.S. rare earth imports between 2004 and 2017.
It's not so much about the deposits, but more about their processing.
Efforts to build U.S. plants are still in the early stages and lack unified support from Congress and the Trump administration.
Related: OTCQB:TMRC, OTCPK:LYSCF, OTCPK:NOPMF
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