The U.S. would
need to import more
rare earth minerals
from China
to build more
offshore
wind turbines.
Critical minerals, like praseodymium,
dysprosium, terbium, indium and silver,
would also see increased demand
to meet the production needs
of a Green New Deal.
China is the dominant player
in critical metal production.
China developed
extraction infrastructure,
and consecutively internalized
the refining of the raw materials.
The Green New Deal also calls for
“zero-emission vehicle infrastructure
and manufacturing,” which means
more electric cars on the road.
Electric cars require batteries,
which need lithium and cobalt.
Most of the world’s cobalt
is mined in the Democratic
Republic of Congo, about 40%
is refined in China.
China dominates global battery
manufacturing, and may supply
two-thirds of all production
by 2020.
Rare earth minerals are not actually rare.
But they are used in smart phones,
wind turbines and high-tech weapons.
Thin-film solar panels
use rare metals
like indium and tellurium.
The batteries of most hybrid
gas-electric vehicles
use magnets that include
dysprosium and neodymium.
In 2015, the only rare earth mine
in the United States, at the time,
filed for bankruptcy protection,
but it is still operating, under
new ownership.
China has a near monopoly over
the rare earth element supply chain.
Rare earth metals in the US
will remain in the ground
until a profit can be made
from extracting them,
assuming current
environmental regulations
would allow new mines.
The business requires a large
capital investment, unlike a typical
online business selling something.