House Bill to Address Supply of Rare Earths Introduced
On February 10, 2011, Representative Boswell (R) introduced the Rare Earths and Critical Materials Revitalization Act of 2011 (H.R. 618), which he states would address the nation’s shortage of metals and materials that are essential components to many high-tech industries, including defense, manufacturing, energy, transportation, optics and electronics, and reduce the country’s dependence on China for these rare earths.
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According to a press release by Representative Boswell, the bill would:
- Direct the Department of Energy to establish a program of research and development aimed at advancing technology affecting rare earths throughout their life cycle, from mining to manufacturing to recycling
- Include the broadening of an existing program of loan guarantees to facilitate development of these new technologies by private industry
- Authorize research to find substitutions for rare earth materials and to find ways to use less of them
(Se ITT’s Online Archives or 12/30/10 news, 10123006, for BP summary China setting the first round of 2011 rare earth export quotas. With around 30% of the world's rare earth reserves, China supplies 90% of global demand.
See ITT’s Online Archives or 02/18/11 news, 11021835, for BP summary of China streamlining the rare earth industry within five years.)
Boswell’s press release on the introduction of the bill is available here.
H.R. 618 legislation text is available here.