Editor’s Note: This story has been updated to include more details about an antimony project in Idaho.
China recently banned exports of certain rare earth minerals to the U.S. as part of an ongoing tech war between the two superpowers. With the largest supplier of those minerals out, some experts weigh in on what this means for the growing industry in the Rocky Mountains.
China’s export ban is on minerals like antimony, germanium, gallium and tungsten.
“They're involved in LED lights, semiconductors, thermometers, many different military applications,” said Caleb Josso, a senior policy advisor with the nonprofit Institute for Energy Research.
He added that the U.S. depends on China for these minerals.
“Even if China was our best friend, which they’re certainly not, it would just be a terrible idea to put all of your eggs in one basket for such a critical resource,” Josso said.
The rare earth mineral industry is burgeoning in the Rocky Mountains. With several projects in the works in Wyoming. But few of these operations are geared toward the specific minerals involved in the export ban.
“Could it possibly be that there are more vast amounts of these critical minerals in Wyoming or in Colorado or Montana? It's possible,” said Josso.
He added that the data is limited because government policies haven’t invited domestic rare earth mineral exploration. For example, it’s expensive and it takes a long time to permit.
“If there were different policies moving forward that would allow for streamlined mineral exploration, as well as the construction of mines, which is a very long process depending on what and where you are trying to extract,” Josso said. “All of that is so time consuming that it's been a terrible investment for most people.”
It’s true. It takes seven to 10 years to permit a mine, making the U.S. permitting process one of the longest in the world, largely because of reviewing environmental impacts, hearing from stakeholders and a long bureaucratic process.
But, that could be changing. Under the Biden administration, rare earth mining received tax breaks. President Trump recently signed an executive order that’ll streamline the mine permitting process, amid environmental concerns.
An antimony mine in central Idaho received its final permit earlier this month. If it opens, it’ll be the first domestic operation since 2001.
Perpetua Resources plans to redevelop the Stibnite Gold Project to mine both gold and antimony as a by-product of gold production. “Perpetua's mine will supply more than 35% of America's annual antimony needs once it opens by 2028 and produce 450,000 ounces of gold each year, a dual revenue stream expected to keep the project financially afloat regardless of any steps Beijing may take to sway markets,” according to Reuters.
Additionally, a tungsten mine is undergoing permitting in southwest Nevada.
Experts have said the U.S. likely can’t be self-sufficient in these minerals and will likely have to depend on other countries, outside of China. Also, the effects of this export ban likely won’t be felt by the average person.
“I don't think there's going to be like one sudden, the music stops, and you can't buy a thermometer anymore, or we no longer have night vision goggles for the armed rangers,” Josso said. “I don't foresee there being some sudden wall that we hit. I think it would be much more gradual.”
Since this is part of an ongoing export battle between the U.S. and China, industry has had time to adjust over the past couple years.
