Coffman RESTART Act Creates Rare Earths Supply Chain-Seeks to Curtail Dangerous Reliance on China for Critical Materials
These are the key provisions of the legislation, items 1 & 3 will help the situation. The others would be better left out. The market will correct this supply and price problem once alternate mines are in operation and start producing.
These are the key provisions of the legislation, items 1 & 3 will help the situation. The others would be better left out. The market will correct this supply and price problem once alternate mines are in operation and start producing.
1. Directing appropriate federal agencies to expedite the permitting process in order to increase the exploration and development of domestic rare earth elements, without waiving environmental laws, and establishing a multi-agency Task Force to carry out this process;
2. Setting up a Defense Logistics Agency (DLA) rare earth inventory -- where DLA enters into long-term supply contracts and then makes the supplies available for purchase to federal government contractors -- to generate a domestic market and facilitate the domestic sourcing of rare earth alloys and magnets;
3. Making loans, backed by the federal government, available to start production should lending from the capital markets not be available;
4. Requiring the various cabinet Secretaries to appoint Executive Agents for rare earths;
5. Establishing a rare earth program at the U.S. Geological Survey.
2. Setting up a Defense Logistics Agency (DLA) rare earth inventory -- where DLA enters into long-term supply contracts and then makes the supplies available for purchase to federal government contractors -- to generate a domestic market and facilitate the domestic sourcing of rare earth alloys and magnets;
3. Making loans, backed by the federal government, available to start production should lending from the capital markets not be available;
4. Requiring the various cabinet Secretaries to appoint Executive Agents for rare earths;
5. Establishing a rare earth program at the U.S. Geological Survey.
http://coffman.house.gov/index.php?option=com_content&view=article&id=436:april-6-2011-coffman-restart-act-creates-rare-earths-supply-chain&catid=36:latest-news&Itemid=10
