Loading ...USA – DoD Invokes Defense Production Act To Boost Metals Mining After China Export Controls
the US Defense Department announced on Friday it is invoking the Defense Production Act to boost the domestic mining and processing capacity of two rare earth metals, gallium and germanium, critical for high-tech chip-making for the US defense industry.
Reuters said the Pentagon has a strategic germanium stockpile but no gallium stockpiles. The move to invoke the Defense Production Act comes after China announced Monday that it will impose export controls on the two metals, citing “safeguard national security and interests.”
“The (Defense) Department is proactively taking steps using Defense Production Act Title III authorities to increase domestic mining and processing of critical materials for the microelectronics and space supply chain, including gallium and germanium,” the DoD spokesperson said.
DoD is like all other govvy “agencies” and deparments – absolute moronic clowns. Do they think they can throw a switch and suddenly the U.S. has mines producing the minerals needed?
The U.S. makes any kind of mineral extraction a lifetime undertaking – binding regulations, lawsuits, demonstrations, environmental whack jobs, death threats, unions, lack of skilled labor, etc etc etc.
What dolts.
Saw this and wrote a post on it this morning but never got around to posting it. Here is what I wrote without the article since it is already above. While these two strategic metals are important, neither are as important nor more strategic than Silver. Now that the Act has been invoked, don’t be surprised to see silver included soon. I expect the US(and likely Canada) to declare the need to nationalize silver production (as oppossed to ownership of the mines) Doesn’t necessarily mean the government is going to seize or buy the silver itself but it will direct priorities, may set a price limit, and could halt sale of silver eagles by the US Mint.