Minerals are the building blocks of our nation’s economy. From rare earth elements to molybdenum, we rely on minerals for everything from the smallest computer chips to the tallest skyscrapers. Minerals make it possible for us to innovate and invent – and in the process shape our daily lives, our standard of living, and our ability to prosper.
There is no question that an abundant and affordable supply of domestic minerals is critical to America’s future. And yet, despite that, our mineral-related capabilities have been slipping for decades. Rare earth elements garner most of the headlines, but according to the U.S. Geological Survey (USGS), the United States was 100 percent dependent on foreign suppliers for 18 minerals in 2010 – and more than 50 percent dependent on foreign sources for some 25 more.
To revitalize the domestic, critical mineral supply chain, Senator Lisa Murkowski and sixteen of her bipartisan colleagues introduced the “Critical Minerals Policy Act” on May 26, 2011. The bill provides clear programmatic direction to help keep the U.S. competitive and will ensure that the federal government’s mineral policies – some of which have not been updated since the 1980s – are brought into the 21st century.