Pentagon to unveil plan to boost rare earths and lithium stockpiles - Reuters

The U.S. Department of Defense plans to increase the stockpile of rare earth minerals, cobalt and lithium it manages, in an effort to reduce the country's long-term dependence on China, Reuters reports.

The new stockpile guidance reportedly could be announced as soon as next week, nearly a year after President Biden issued an executive order to study U.S. supply chain resiliency.

Lithium, used to make electric vehicle batteries, will be vital to the Pentagon's goal of shifting its fleet of 170K non-tactical vehicles to zero emissions, according to the report.

The U.S. currently has only one rare earths mine - the Mountain Pass mine in California - and no capability to process rare earth minerals.

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Pentagon to boost rare earths and lithium stockpiles - Reuters (NYSEARCA:REMX) | Seeking Alpha