“There are
17 minerals that are essential to our everyday lives. They are in our
cell phones, our medical equipment, and our national defense equipment,” says
Wheeler. “China has a 90% monopoly type control of these minerals.
Should they choose to stop refining minerals for the United States our national
security, our way of life may be at risk.”
The United
States currently has the infrastructure to mine these rare minerals, but
regulation has gotten in the way of storing and refining them. Should the
Cooperative Act pass, Rep. Wheeler would like Illinois to be the site of this
new refinery. This would immediately create hundreds of local industrial
jobs. In the long term, the mining of these rare elements will be a boon
for dozens on Illinois industries, including medical, technology, and
aerospace.
“Illinois
has the potential to be the Silicon Valley of materials research,” said
Wheeler. “Right now, government regulation is halting our progress in
this field. We have the opportunity to be the rare earth mineral hub of
the world. I strongly urge the passage of this Act.”
The
National Rare Earth Cooperative Act of 2014 is an initiative of Senator Roy
Blunt (R-Missouri). It is currently in the Senate Committee on Energy and
Natural Resources for consideration.
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