WILSON MEMO - Critical Mineral Supply Chain Vulnerabilities and Policy Recommendations

WILSON MEMO Critical Mineral Supply Chain Vulnerabilities and Policy Recommendations Dramatic Growth of Demand for Critical Minerals Rising demand is a huge challenge in the critical minerals supply chain, as critical minerals will play a key role in the clean energy transition: an International Energy Agency (IEA) assessment found that to reach the Paris Agreement goal of a less than 2° Celsius r. [...] Global Competition: The China Challenge China has outstripped the United States in processing and producing critical minerals due to its lower ESG standards and more favorable financing terms. [...] China is the world’s largest producer and consumer of cobalt, most of which is imported from Chinese-owned mining companies in the Democratic Republic of the Congo (DCR). [...] Especially in the US, extensive permitting processes are delaying production and threatening the critical minerals supply chain. [...] mining • Engage in strategic investment collaboration with the private sector and state governments to develop indigenous resources in the US, especially by providing a stable and streamlined regulatory environment • Emulate international best practices for regulation and permitting to reduce project lead times • Evaluate policy on stockpiling, strategic reserves, and recycling Private Sector/Indu.