Rare earth minerals are essential to modern technology, from EV batteries to aerospace components. In this Supply Chain Chat, Lisa Anderson discusses why these minerals are so critical, what industries rely on them, and what supply chains must do to secure a stable supply in an increasingly competitive global market.
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Rare earth minerals play a critical role in manufacturing, technology, and energy production. They are essential for semiconductors, medical devices, pharmaceuticals, aerospace, and defense components, making them a matter of national security and supply chain resilience.
Key points covered:
- Domestic Production: The U.S. needs to ramp up rare earth mineral production to strengthen supply chains. Several companies are already investing in discovery, milling, and refining.
- Policy Actions: A recent executive order signed by Trump focuses on Alaska, which is rich in these minerals.
- Nearshoring Strategies: Beyond domestic efforts, the U.S. should partner with resource-rich and friendly nations such as Canada, Greenland, and Ukraine to secure supply.
- Supply Chain Visibility & Technology: Companies must enhance supply chain visibility, assess risks, and leverage AI-driven and advanced technologies to ensure stable and secure sourcing of rare earths.
Lisa underscores the need for a strategic and diversified approach to securing rare earth mineral supply chains, balancing domestic production with international partnerships.
If you are interested in reading more on this topic:
Geopolitics & Natural Resources Will Dictate Future Supply Chains