In the world of critical minerals, China reigns supreme, processing a significant percentage of the global supply. With Beijing controlling the production of graphite, rare earths, and cobalt, concerns over supply chain dependency have been raised. Australia, a major player in lithium production, is ramping up efforts to attract investments in critical minerals mining and processing. Meanwhile, Japan has managed to decrease its reliance on Chinese critical minerals. India, on the other hand, heavily depends on Chinese imports for lithium and cobalt.
Senator Lankford emphasizes the importance of forming trusted partnerships among the US, Australia, India, and Japan to reduce dependency on Chinese supplies. Legislative efforts have been made to prioritize critical minerals projects within the Quad countries, but progress has been slow. Collaboration and investment in critical minerals are seen as essential for achieving green transition goals, with initiatives such as the Quad and the Minerals Security Partnership gaining traction.
As geopolitical tensions loom, discussions around balancing Chinese involvement in the US green-energy sector are ongoing. Chinese technology remains crucial in renewable energy advancements, posing a challenge for the US to achieve its sustainable goals independently.