Friday's Live Webinar on Sept 23

Friday's Live Webinar on Sept 23

Postby dan_s » Wed Sep 21, 2022 3:48 pm

On Friday we will get an update on Rare Earth Minerals from Craig Taylor, CEO of Defense Metals Corp.

Watch this short video first: https://www.youtube.com/watch?v=eRcJA9C-WN8&t=9s

To attend the live webinar, you must register to get the Zoom link. Each one is unique, so you can't share the Zoom link assigned to you.
> Register on the EPG home page or
> Send an email to Sabrina at energyprospectus@gmail.com and she will send you the registration link.

I will be on the webinar and all attendees can ask questions by typing them in to the chat box.
Dan Steffens
Energy Prospectus Group
dan_s
 
Posts: 30119
Joined: Fri Apr 23, 2010 8:22 am

Re: Friday's Live Webinar on Sept 23

Postby dan_s » Thu Sep 22, 2022 2:24 pm

We will discuss this on Friday's webinar

FACT SHEET: Biden-Harris Administration Announces Further Actions to Secure Rare Earth Element Supply Chain

Department of Commerce Findings and Recommendations Build on Progress to Secure Critical Supply Chain, Reduce Dependence on China

U.S. Department of Commerce: The Biden-Harris Administration is strongly committed to securing U.S. supply chains for critical goods. Neodymium-iron-boron (NdFeB) permanent magnets are strong magnets made of rare earth elements that are critical to the functioning of defense systems, as well as clean energy technologies such as electric vehicle motors and wind turbines. The United States used to lead the world in rare earth element production. However, over the last three decades, the People’s Republic of China (PRC) has captured nearly the entire supply chain, and it currently has nearly 60 percent of mined production, over 85 percent of processing capacity, and over 90 percent of permanent magnet production.

Since day one in office, President Biden has focused on building resilient and diverse supply chains essential to our national security, our economic security, and our competitiveness. In February 2021, President Biden signed Executive Order 14017 on America’s Supply Chains, which directed a 100-day review of the supply chains for critical minerals, including rare earth elements. As part of the actions directed by the President to address vulnerabilities in critical minerals supply chains, the Secretary of Commerce (“Secretary”) conducted an investigation under section 232 of the Trade Expansion Act of 1962, as amended (“Section 232”). This was the first Section 232 investigation initiated under the Biden-Harris Administration. The investigation found that NdFeB magnet imports threaten national security as defined in the statute. The President concurs with the Secretary’s finding.

The Secretary’s report notes that the United States, as well as our allies and partners, are highly dependent on imports from China, and that the nascent domestic NdFeB magnet industry faces significant barriers to reaching its production targets, including unfair Chinese practices. The report further noted that U.S. consumption of NdFeB magnets is forecast to more than double. from 2020 to 2030, driven by increased demand from electric vehicles and wind energy industries.

To mitigate the national security threat from foreign imports, the Biden-Harris Administration will implement Commerce’s recommendations including bolstering domestic production throughout the supply chain, promoting demand for U.S.-produced magnets, engaging with allies and partners on supply chain resilience, supporting the development of a highly-skilled workforce, and supporting research to mitigate supply chain vulnerabilities, along with other efforts. In addition, to ensure continued support for the domestic NdFeB magnet industry in face of unfair competition from China, the Biden-Harris Administration will continue to monitor the domestic supply chain and take appropriate actions.
Dan Steffens
Energy Prospectus Group
dan_s
 
Posts: 30119
Joined: Fri Apr 23, 2010 8:22 am


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