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US to Rebuild Rare Earths, Semiconductor Procurement Network

The US government will rebuild the rare earths and semiconductor procurement network. The Biden administration of the US stated that it will rebuild the supply chain of semiconductors and important minerals. It will cooperate with Japan and other allies to strive to achieve diversification of access chains. The United States hopes to reduce its dependence on China for resources and materials related to national security such as rare earths.

Due to the spread of the pandemic, there is a shortage supply of medical supplies and critical materials. The U.S. government will improve the system to be able to stably purchase necessary supplies during emergencies. The US government will work with allies to examine the current status of the supply chain, focusing on minerals such as rare earths, semiconductors, batteries for electric vehicles, and medical supplies that are indispensable in the high-tech field.

It is reported that 80% of U.S. rare earth purchases depend on China. In terms of semiconductors, it is currently trapped in a global shortage of supply, which has become a huge concern for the automotive industry.

USA Rare Earth's LLC hosts materials essential to rare earth permanent magnets, EV and Li-ion batteries, and advanced semi-conductor chips. USA Rare Earth LLC, the funding and development partner of the Round Top Heavy Rare Earth, lithium and Critical Minerals Project in Hudspeth County, West Texas, together with Texas Mineral Resources Corp., applauded President Biden's Executive Order on Securing America’s Critical Supply Chains. The Executive Order requires swift new government assessments of key U.S. supply chains across the healthcare, technology and transportation sectors, including semiconductor materials, critical minerals, rare earth elements, and electric vehicle batteries.

USA Rare Earth, LLC is earning and acquiring an 80% operating joint venture interest in, and is the operator of, the Round Top Heavy Rare Earth and Critical Minerals Project located in Hudspeth County, West Texas from Texas Mineral Resources Corp. Round Top hosts a wide range of critical heavy rare earth elements, high-tech metals, including lithium, zirconium, hafnium and beryllium, and, based on the Preliminary Economic Assessment projects a pre-tax net present value using a 10% discount rate of $1.56 billion based on a 20-year mine plan that is only 13% of the identified measured, indicated and inferred resources.

"The assessments over the next 100 days will reiterate the importance of U.S. national assets like our Round Top heavy rare earth and lithium project in providing the technology metals needed for the next century of U.S. innovation and infrastructure,” said Pini Althaus, Chief Executive Officer of USA Rare Earth. “We applaud President Biden’s urgency to assess and build additional U.S. capacity across the transportation, energy and defense industrial base. Rare earths and critical minerals, including lithium, are essential to modern technology and require a robust, resilient strategy for U.S. advanced manufacturing and national security.

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