The State Department on Wednesday announced a partnership with the nonprofit SAFE on the development of critical mineral supply chains. |
The effort is part of broader Biden administration efforts to reduce foreign dependence on such resources.
The partnership, the Minerals Investment Network for Vital Energy Security and Transition (MINVEST), will aim to marshal private sector support for U.S. mineral-security goals, as well as encourage increased investment in domestic mining and processing.
“We have a need, and the need is very clear,” Under Secretary of State for Economic Growth, Energy, and the Environment Jose Fernandez said at a Wednesday press briefing at the State Department. “[T]he obstacle right now is, there’s relatively little investment because supply chains are dominated by one or two countries.” - While China received scant mention during the briefing, the country dominates much of the supply chain for the minerals used in electric vehicle (EV) batteries, including the mining and refining processes.
- Republican lawmakers and other opponents of the EV push have denounced it as a giveaway to China at the expense of American industry.
Read more in a full report at TheHill.com. |
Welcome to The Hill’s Energy & Environment newsletter, we’re Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
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