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Kamala Harris Proposes Strategic Reserve of Critical Minerals to Reduce Dependence on China

Sep 30, 2024, 05:19 AM

US Vice President Kamala Harris has proposed the creation of a national stockpile of critical minerals, emphasizing its importance for economic and national security. This initiative aims to reduce the United States' dependency on China, which currently dominates the supply chains for materials essential for defense, electric vehicles, and nuclear power. The proposal includes a 'strategic critical mineral reserve' to mitigate potential supply chain disruptions. Western nations are also collaborating to break China's grip on these critical minerals. China has recently limited the export of natural graphite, one of the 20 critical minerals the US relies on, complicating efforts to diversify supply chains. Despite a slump in cobalt and lithium prices, experts like JavierBlas warn that low prices do not ensure the security of supply for these essential elements. NPR reports that China maintains control over the supply chain of critical minerals used for EVs and AI.