Erik Groves is Corporate Strategy and In-House Counsel at Morgan Companies.
There is a growing chorus of voices championing increased exploration and resource discovery in the global scramble to secure critical minerals. From copper to rare earth elements (REEs), policymakers often fixate on the belief that establishing new ore sources will lead to self-sufficiency.
At first glance, this is a logical approach—after all, production starts with the extraction of raw minerals. However, this approach is misguided if our true goal is to achieve long-term critical mineral self-sufficiency and independence.
Instead, the primary focus of our public policies should be on building and expanding domestic smelting and processing capacity.
Why prioritize processing over exploration?
First, constructing smelting and refining facilities involves greater capital investment, more extensive permitting processes, and longer development timelines than constructing a mine. A processing plant can take years—if not a decades—to get up and running.
For the rest of this article: https://www.mining.com/mining-alone-wont-lead-to-critical-minerals-independence-processing-will-pave-the-way/