$30 Million Investment in Critical Minerals Supply Chain by Biden-Harris Administration

author: FutureCar Staff    

Funding from President Biden's Investing in America Agenda will have multiple positive impacts on the United States. The U.S. Department of Energy (DOE) has announced that up to $30 million will be allocated to lower the costs of onshore production of rare earths and other critical minerals and materials from domestic coal-based resources. This funding, provided by the Bipartisan Infrastructure Law, will help meet the increasing demand for critical minerals in the country while reducing reliance on offshore supplies.

The extraction of rare earths and critical minerals is crucial for U.S. manufacturing of clean energy technologies like solar panels, wind turbines, electric vehicles, and hydrogen fuel cells. These technologies are essential for advancing President Biden's ambitious climate agenda. By extracting these materials from coal, coal waste, and associated by-products, the initiative will also create well-paying jobs in communities that have traditionally relied on fossil energy resources, aligning with the Biden-Harris Administration's commitment to revitalizing energy communities and ensuring equitable access to benefits through the Justice40 Initiative.

U.S. Secretary of Energy Jennifer M. Granholm expressed her support for President Biden's agenda, highlighting its role in rebuilding America's manufacturing sector and enhancing the country's ability to produce critical minerals for clean energy technologies. Granholm emphasized that these investments reduce dependence on foreign supply chains while generating high-quality jobs in communities that have been instrumental in powering the nation for generations.

The United States currently imports over 80% of its rare earth demand from non-domestic suppliers, according to the U.S. Geological Survey's National Mineral Information Center. However, rare earth elements are naturally occurring in domestic coal and coal wastes. The funding opportunity announced today aims to tap into this unconventional resource to develop a domestic supply chain critical to the U.S. economy, clean energy sector, and national security.

The program will allocate funds for research in laboratory and bench-scale testing of economically viable and environmentally friendly extraction, separation, and refining technologies. The initial focus will be on unconventional coal-based resources, with the goal of producing rare earths and critical minerals for use in clean energy, national defense, and commercial commodity products and equipment.

Overall, President Biden's Investing in America Agenda and the funding provided by the Bipartisan Infrastructure Law will have far-reaching impacts. It will boost job creation, strengthen national security, revitalize energy communities, and accelerate the development of a clean energy economy in the United States.

Source: Company Press Release

FutureCar Staff