Germany following the critical mineral stockpiling trend

It seems to be trendy for countries to begin stockpiling minerals. After Japan  noticed China’s choke hold on the rare earths market, they began harvesting their own supply of critical minerals. The U.S. is attempting to follow behind and now it appears as if Germany is next.

In Mineweb’s article, Proposed German industrial alliance aims to secure critical metals supply, they discuss Germany’s plan to stockpile “critical materials” through an alliance with several companies.

The article states that trade restrictions by China and rising  prices prompted German companies to form the alliance. They aim to establish a global resource company that allows the German industry to have independent access to critical minerals such as copper and rare earths (REM).

As countries are beginning to strap down their mineral resources, it is more important than ever that we develop our own domestic mineral resources in the United States. We need to inform more Americans that we are 100 percent reliant on foreign countries for 18 critical minerals.

Here is another interesting article about the U.S. challenges with China’s REM control and the importance of U.S. mineral production; U.S. at China’s Mercy for Rare Earth Minerals.

The article quotes Stephen Leeb, the author of  from The Coming Economic Collapse “China is spending more on the rare earth industry than the U.S. spent during World War II​,” said Leeb, “The basic point is that there is a war going on.  China has spent two-and-a-half trillion dollars on new energy.  That amount of money is about how much the U.S. spent during the Second World War​.  In their minds, they are at war.”

We at the Northwest Mining Association will continue to support the politicians such as Senator Lisa Murkowski and Rep. Doc Hastings, who are attempting to help decrease our  reliance on foreign minerals and draft legislation that supports the American minerals industry.

Read more at The More You Dig