strategy to secure America’s critical minerals supply that balances onshoring through domestic mining and offshoring through international supply chain development. Domestically, rather than rely on tariffs, the United States needs a comprehensive industrial strategy for minerals development.4 Internationally, the United States must work with... See more

Moreover, creating secure critical minerals supply that enables rather than constrains U.S. manufacturing is a key objective. Doubling down on American mining might undercut American manufacturing. If U.S. mining is not cost competitive globally, any requirements on U.S. manufacturers to use domestic materials will raise their costs relative to... See more

But greater minerals extraction is only half the picture, as a corresponding scaleup of U.S. smelting capacity would also be required.Current policy measures under the OBBBA provide mixed support. While the legislation allocates $2 billion for National Defense Stockpile purchases, $5 billion for the Industrial Base Fund, and $500 million for... See more

A friendshoring strategy is the best means to create secure and reliable supply. Working with close allies, key emerging markets, and developing economies will build geopolitical leverage by building partnerships.

First, a comprehensive domestic industrial strategy must address the entire mining ecosystem—from streamlined permitting and modern equipment to efficient logistics networks and processing economies of scale. Second, a coordinated friendshoring approach must leverage partnerships with allies and developing economies to diversify supply chains away... See more

Our analysis shows that even under the most optimistic scenarios, by 2035 U.S. domestic production would be able to meet projected demand only for zinc and molybdenum.