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RARE EARTH bill APPROVED

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Last week, a US House committee agreed and approved a bill that would,
among other things, provide loan guarantees for US companies wishing to
start up rare earth material mining. Committee Chairman Bart Gordon said
it was essential for the United States to start providing its own rare earth
materials. During the Committee's markup hearing, Representative Gordon
(D-TN) said "I believe it would be foolish to stake our national defense and
our economic security on China's good will, or hope that it will choose to
compete in a fair and open global marketplace for rare earth.

"The stakes are simply too high."

The US Defense Department is compiling a report on the national security
impact of US dependence on the Chinese provided materials and this week,
a Senate committee will probe the issue as well.


Article link

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