[{"data":1,"prerenderedAt":744},["ShallowReactive",2],{"ticker-data":3,"story-article/biden-backs-us-critical-minerals-projects-but-is-it-enough":550},[4,52,82,112,148,186,229,261,297,336,378,419,460,490,520],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-14","2wk","Updated every 2 weeks","Lithium",317.07,322.34,-1.64,35.66,90.62,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-09-30",{"date":19,"value":20},"2026-09-16",354.99,{"date":22,"value":23},"2026-09-02",385.07,{"date":25,"value":26},"2026-08-19",372.67,{"date":28,"value":29},"2026-08-05",367.54,{"date":31,"value":32},"2026-07-22",388.26,{"date":34,"value":35},"2026-07-08",399.4,{"date":37,"value":38},"2026-06-24",410.62,{"date":40,"value":41},"2026-06-10",427.77,{"date":43,"value":44},"2026-05-27",449.85,{"date":46,"value":47},"2026-05-13",451.12,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",256.83,278.71,-7.85,1.12,46.89,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},300.39,{"date":22,"value":65},306.07,{"date":25,"value":67},297.22,{"date":28,"value":69},296.63,{"date":31,"value":71},309.38,{"date":34,"value":73},317.2,{"date":37,"value":75},330.54,{"date":40,"value":77},346.5,{"date":43,"value":79},358.35,{"date":46,"value":81},350.28,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",292.05,311.1,-6.12,43.7,92,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},339.85,{"date":22,"value":95},352.45,{"date":25,"value":97},341.12,{"date":28,"value":99},337.87,{"date":31,"value":101},354.36,{"date":34,"value":103},364.06,{"date":37,"value":105},376.67,{"date":40,"value":107},393.29,{"date":43,"value":109},411.01,{"date":46,"value":111},408.51,{"publishedDate":5,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",171.41,173.83,-1.39,-27.13,-1.06,[122,123,125,126,129,131,133,136,138,141,142,145],{"date":5,"value":116},{"date":124,"value":117},"2026-10-07",{"date":17,"value":117},{"date":127,"value":128},"2026-09-23",175.44,{"date":19,"value":130},178.66,{"date":22,"value":132},189.92,{"date":134,"value":135},"2026-08-26",192.6,{"date":25,"value":137},199.83,{"date":139,"value":140},"2026-08-12",217.25,{"date":28,"value":140},{"date":143,"value":144},"2026-07-29",221.25,{"date":31,"value":146},224.44,"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-21","Nickel",107.13,114.04,-6.06,-11.27,-0.65,[157,158,159,161,164,166,168,170,173,176,179,182],{"date":149,"value":151},{"date":124,"value":152},{"date":127,"value":160},116.1,{"date":162,"value":163},"2026-09-09",119.13,{"date":134,"value":165},119.61,{"date":139,"value":167},121.04,{"date":143,"value":169},121.19,{"date":171,"value":172},"2026-07-15",122.66,{"date":174,"value":175},"2026-07-01",125.61,{"date":177,"value":178},"2026-06-17",131.5,{"date":180,"value":181},"2026-06-03",134.65,{"date":183,"value":184},"2026-05-20",135.83,"/nickel/prices",{"publishedDate":17,"updateFrequency":187,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":228,"subscription":49,"isProtected":50,"hasAccess":51},"1mo","Updated every month","Natural Graphite",78.45,80.18,-2.16,-3.84,-4.03,[196,197,199,202,205,208,211,214,217,220,223,226],{"date":17,"value":190},{"date":198,"value":191},"2026-08-28",{"date":200,"value":201},"2026-07-31",80.66,{"date":203,"value":204},"2026-06-30",82.87,{"date":206,"value":207},"2026-05-29",82.99,{"date":209,"value":210},"2026-04-30",82.93,{"date":212,"value":213},"2026-03-31",82.39,{"date":215,"value":216},"2026-02-27",81.92,{"date":218,"value":219},"2026-01-30",81.69,{"date":221,"value":222},"2025-12-31",81.58,{"date":224,"value":225},"2025-11-28",81.35,{"date":227,"value":225},"2025-10-31","/natural-graphite/prices",{"publishedDate":17,"updateFrequency":187,"updateFrequencyText":188,"label":230,"today":231,"last":232,"percentageChange":233,"yearToDate":234,"yearOnYear":235,"oneYearIndexTrend":236,"url":260,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",86.15,81.86,5.24,15.73,19.78,[237,238,239,241,242,244,246,248,250,252,254,257],{"date":17,"value":231},{"date":200,"value":232},{"date":203,"value":240},80.54,{"date":206,"value":240},{"date":209,"value":243},84.01,{"date":212,"value":245},79.79,{"date":215,"value":247},75.72,{"date":218,"value":249},74.61,{"date":221,"value":251},74.44,{"date":227,"value":253},72.75,{"date":255,"value":256},"2025-09-30",71.92,{"date":258,"value":259},"2025-08-29",71.46,"/synthetic-graphite/prices",{"publishedDate":262,"updateFrequency":187,"updateFrequencyText":188,"label":263,"today":264,"last":265,"percentageChange":266,"yearToDate":267,"yearOnYear":268,"oneYearIndexTrend":269,"url":296,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-15","Anode",80.45,80.24,0.27,1.81,3.2,[270,271,273,275,276,278,281,284,287,289,291,293],{"date":262,"value":264},{"date":272,"value":265},"2026-09-15",{"date":274,"value":265},"2026-08-17",{"date":171,"value":265},{"date":277,"value":265},"2026-06-15",{"date":279,"value":280},"2026-05-15",79.16,{"date":282,"value":283},"2026-04-15",81.98,{"date":285,"value":286},"2026-03-16",79.03,{"date":288,"value":286},"2026-02-16",{"date":290,"value":286},"2026-01-15",{"date":292,"value":286},"2025-12-15",{"date":294,"value":295},"2025-11-17",77.79,"/anode/prices",{"publishedDate":298,"updateFrequency":187,"updateFrequencyText":188,"label":299,"today":300,"last":301,"percentageChange":302,"yearToDate":303,"yearOnYear":304,"oneYearIndexTrend":305,"url":335,"subscription":49,"isProtected":50,"hasAccess":51},"2026-08-01","Cathode",73.32,77.21,-5.04,14.41,55.07,[306,307,308,311,314,317,320,323,325,327,329,332],{"date":298,"value":300},{"date":174,"value":301},{"date":309,"value":310},"2026-06-01",80.32,{"date":312,"value":313},"2026-05-01",81.71,{"date":315,"value":316},"2026-04-01",77.27,{"date":318,"value":319},"2026-03-01",81.99,{"date":321,"value":322},"2026-02-01",80.5,{"date":290,"value":324},72.79,{"date":292,"value":326},64.08,{"date":294,"value":328},62.01,{"date":330,"value":331},"2025-10-15",53.51,{"date":333,"value":334},"2025-09-15",49.5,"/cathode/prices",{"publishedDate":337,"updateFrequency":187,"updateFrequencyText":188,"label":338,"today":339,"last":340,"percentageChange":341,"yearToDate":342,"yearOnYear":343,"oneYearIndexTrend":344,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[345,346,348,351,354,357,360,363,366,368,371,374],{"date":337,"value":339},{"date":347,"value":340},"2025-02-28",{"date":349,"value":350},"2025-01-31",71.45,{"date":352,"value":353},"2024-12-31",75.74,{"date":355,"value":356},"2024-11-29",76.98,{"date":358,"value":359},"2024-10-31",77.34,{"date":361,"value":362},"2024-09-30",77.43,{"date":364,"value":365},"2024-08-30",80.56,{"date":367,"value":207},"2024-07-31",{"date":369,"value":370},"2024-06-28",87.2,{"date":372,"value":373},"2024-05-31",90.7,{"date":375,"value":376},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":379,"updateFrequency":6,"updateFrequencyText":7,"label":380,"today":381,"last":382,"percentageChange":383,"yearToDate":384,"yearOnYear":385,"oneYearIndexTrend":386,"url":418,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-08","Black Mass",37.11,38.95,-4.72,-14,18.31,[387,388,390,393,396,399,402,405,408,411,414,416],{"date":379,"value":381},{"date":389,"value":382},"2026-09-24",{"date":391,"value":392},"2026-09-10",42.03,{"date":394,"value":395},"2026-08-27",43.88,{"date":397,"value":398},"2026-08-13",42.33,{"date":400,"value":401},"2026-07-30",43.42,{"date":403,"value":404},"2026-07-16",46.74,{"date":406,"value":407},"2026-07-02",46.01,{"date":409,"value":410},"2026-06-18",49.57,{"date":412,"value":413},"2026-02-12",47.34,{"date":415,"value":410},"2026-01-29",{"date":290,"value":417},43.15,"/recycling/black-mass-prices",{"publishedDate":262,"updateFrequency":187,"updateFrequencyText":188,"label":420,"today":421,"last":422,"percentageChange":423,"yearToDate":424,"yearOnYear":425,"oneYearIndexTrend":426,"url":459,"subscription":49,"isProtected":50,"hasAccess":51},"Rare Earths",172.08,171.72,0.21,20.59,30.21,[427,428,430,433,436,439,442,445,448,451,454,457],{"date":262,"value":421},{"date":429,"value":422},"2026-10-01",{"date":431,"value":432},"2026-09-03",170.83,{"date":434,"value":435},"2026-08-20",169.63,{"date":437,"value":438},"2026-08-06",172.28,{"date":440,"value":441},"2026-07-23",173.94,{"date":443,"value":444},"2026-07-09",171.69,{"date":446,"value":447},"2026-06-25",168.55,{"date":449,"value":450},"2026-06-11",165,{"date":452,"value":453},"2026-05-28",163.89,{"date":455,"value":456},"2026-05-14",172.63,{"date":209,"value":458},175.6,"/rare-earths/prices",{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":461,"today":462,"last":463,"percentageChange":464,"yearToDate":465,"yearOnYear":466,"oneYearIndexTrend":467,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",152.7,162.48,-6.02,17.38,53.11,[468,469,470,472,474,476,478,480,482,484,486,488],{"date":198,"value":462},{"date":200,"value":463},{"date":203,"value":471},171.08,{"date":206,"value":473},173.65,{"date":209,"value":475},164.53,{"date":212,"value":477},157.28,{"date":215,"value":479},151.44,{"date":218,"value":481},144.5,{"date":221,"value":483},130.09,{"date":224,"value":485},124.6,{"date":227,"value":487},122.35,{"date":255,"value":489},103.5,{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":491,"today":492,"last":493,"percentageChange":494,"yearToDate":495,"yearOnYear":496,"oneYearIndexTrend":497,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",144.45,149.67,-3.49,26.69,49.06,[498,499,500,502,504,506,508,510,512,514,516,518],{"date":198,"value":492},{"date":200,"value":493},{"date":203,"value":501},157.37,{"date":206,"value":503},160,{"date":209,"value":505},149.53,{"date":212,"value":507},141.97,{"date":215,"value":509},136.99,{"date":218,"value":511},129.81,{"date":221,"value":513},114.02,{"date":224,"value":515},109.17,{"date":227,"value":517},109.02,{"date":255,"value":519},99.44,{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":521,"today":522,"last":523,"percentageChange":524,"yearToDate":525,"yearOnYear":526,"oneYearIndexTrend":527,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",229.17,218.34,4.96,49.35,83.44,[528,529,530,532,534,536,538,540,542,544,546,548],{"date":198,"value":522},{"date":200,"value":523},{"date":203,"value":531},239.1,{"date":206,"value":533},258.32,{"date":209,"value":535},239.37,{"date":212,"value":537},213.01,{"date":215,"value":539},204.49,{"date":218,"value":541},218.06,{"date":221,"value":543},153.45,{"date":224,"value":545},134.02,{"date":227,"value":547},118.22,{"date":255,"value":549},111.93,{"id":551,"uuid":552,"name":553,"slug":554,"full_slug":555,"content":556,"relatedArticles":742,"relatedVideos":743},112472955412028,"da2a5295-a2e9-436a-85c9-5a07ebdb2daa","Biden backs US critical minerals projects but is it enough?","biden-backs-us-critical-minerals-projects-but-is-it-enough","article/biden-backs-us-critical-minerals-projects-but-is-it-enough",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":723,"featured":50,"reporter":724,"_editable":728,"component":729,"seo_title":553,"categories":730,"visibility":734,"author_company":49,"featured_image":735,"seo_description":723,"author_full_name":49,"author_job_title":49,"formattedDate":740,"formattedArticleDate":741},"bcb14b2f-7a32-41b9-90a6-2fd57a3d2d46","2022-02-24 00:00",[560],{"slug":561,"name":562},"usa","USA",[564],{"slug":565,"name":566,"content":567},"matthew-bird","Matthew Bird",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Senior Editor - Supply Chains & Data Visualisation",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":574,"content":575},"doc",[576,583,588,593,598,603,608,615,620,625,630,635,640,645,650,655,660,665,670,675,680,685,690,713,718],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"President Joe Biden said he supported the need to mine critical minerals domestically if it benefits local communities, as his administration unveiled its backing for half a dozen projects ranging from rare earths to lithium and nickel. ","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":582},"The President said domestic mining and recycling projects would ensure the country’s natural resources “benefit the community” and create “good-paying, union jobs in sustainable production.” ",{"type":577,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":582},"“These investments set America up to lead the world in building a clean energy economy and a clean energy future,” Biden said. ",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582},"The President met with company executives, community representatives, labour leaders and California governor Gavin Newsom on Tuesday, as part of his administration’s effort to reduce the US’s reliance on foreign supplies of critical minerals.",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":582},"Biden said the administration would support projects with a “laser focus on boosting strong labor, environmental and environmental justice, community engagement, and Tribal consultation standards.”",{"type":577,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":582},"“As we build the economy we’re going to build around working Americans – that means making sure labor is at the table, the tribes and the people from the community are at the table from day one,” Biden told Tuesday’s meeting. “And environmental protections are paramount. We ensure these resources actually benefit folks in the communities where they live not just the shareholders.”",{"type":609,"attrs":610,"content":612},"heading",{"level":611,"textAlign":49},4,[613],{"text":614,"type":582},"CONTINUED IMPORT RELIANCE",{"type":577,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":582},"Many of the projects in battery minerals are pilot plants or projects that are unlikely to bear fruit for the next few years, however. Large lithium projects like the Thacker Pass mine in Nevada were also not mentioned by Biden.  ",{"type":577,"attrs":621,"content":622},{"textAlign":49},[623],{"text":624,"type":582},"As a result Benchmark predicts that the US will continue to be reliant on imports for the majority of its lithium, nickel, cobalt, and graphite supply. ",{"type":577,"attrs":626,"content":627},{"textAlign":49},[628],{"text":629,"type":582},"In the largest grant, the White House said the Department of Defense would give rare earth miner MP Materials $35 million to separate and process heavy rare earth elements at its mine in Mountain Pass, California, the only operational rare earth mine in the US. Last year MP Materials signed a deal to supply GM with rare earth magnet materials. ",{"type":577,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":582},"The company plans to invest $700 million by 2024 building a US-based rare earth supply chain, including a rare earth metal, alloy and magnet manufacturing facility in Fort Worth, Texas. The plant will be able to produce enough magnets for 500,000 electric vehicles a year, it says. ",{"type":577,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":582},"China produces over 87% of the world’s permanent magnets used in electric vehicles. ",{"type":577,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":582},"“MP Materials’ operations provide certainty of U.S. provenance and sustainability,” the company said. ",{"type":577,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":582},"Among other projects supported, Biden said Warren Buffett’s Berkshire Hathaway Energy Renewables would break ground on a new demonstration facility in Imperial County, California, to test a process to extract lithium from geothermal brine, starting in April. It will then start construction of a commercial production plant in 2024. ",{"type":577,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":582},"“If successful, this sets the company a path towards commercial scale production of battery grade lithium hydroxide and lithium carbonate by 2026,” the White House said. ",{"type":577,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":582},"Once at scale, BHE Renewables facilities could produce 90,000 tonnes of lithium per year, it said. ",{"type":577,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":582},"The White House said the the Department of the Interior will lead an interagency effort to reform mine permitting and oversight regulations, with a report due to Congress in November. The reforms will “promote responsible mining under strong social, environmental, and labor standards that avoids the historic injustice that too many mining operations have left behind,” it said. ",{"type":577,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":582},"Many new mining projects in the US have struggled to come into production due to community or tribal opposition. In January Biden’s administration cancelled leases held by Twin Metals Minnesota, a subsidiary of Chilean miner Antofagasta, which planned to mine nickel and copper near to a protected wilderness area.   ",{"type":577,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":582},"Biden’s administration would also boost its stockpiling of critical minerals, it said.  ",{"type":609,"attrs":676,"content":677},{"level":611,"textAlign":49},[678],{"text":679,"type":582},"MORE SUPPORT NEEDED",{"type":577,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":582},"This week’s announcement follows the issuing earlier this month of two notices of intent by the Department of Energy (DOE) to invest $2.91 billion into the US’s lithium ion industries. ",{"type":577,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":582},"The funding, which the DOE expects to be made available in the coming months, will be allocated across the supply chain from refining and recycling through to battery cell and pack production.",{"type":577,"attrs":691,"content":692},{"textAlign":49},[693,695,703,705,711],{"text":694,"type":582},"The US has increased its ",{"text":696,"type":582,"marks":697},"lithium ion cell production capacity pipeline significantly since the start of 202",[698],{"type":699,"attrs":700},"link",{"href":701,"uuid":49,"anchor":49,"target":49,"linktype":702},"https://source.benchmarkminerals.com/article/president-biden-issues-rallying-call-for-more-ev-battery-gigafactories","url",{"text":704,"type":582},"0 when it had ",{"text":706,"type":582,"marks":707},"7 gigafactories in the pipeline with 206 GWh of total capacity in the pipeline",[708],{"type":699,"attrs":709},{"href":710,"uuid":49,"anchor":49,"target":49,"linktype":702},"https://source.benchmarkminerals.com/article/the-usa-begins-to-develop-its-lithium-ion-supply-chain-strategy",{"text":712,"type":582},". Today, this has increased to 21 gigafactories, three of which are in production, with a planned production capacity of 703 GWh.",{"type":577,"attrs":714,"content":715},{"textAlign":49},[716],{"text":717,"type":582},"If the US wants to develop its domestic supply chain capabilities to support the requirements of its battery cell demand, and reduce its reliance on foreign battery raw materials, more investment is needed, however.",{"type":577,"attrs":719,"content":720},{"textAlign":49},[721],{"text":722,"type":582},"“Multibillion supply chains do not move overnight,” Jame Litinsky, CEO of MP Materials, told Biden.","President Joe Biden said he supported the need to mine critical minerals domestically if it benefits local communities, as his administration unveiled its backing for half a dozen projects ranging from rare earths to lithium and nickel. The President said domestic mining and recycling projects would ensure the country’s natural resources “benefit the community” and […]",[725],{"slug":565,"name":566,"content":726},{"job_title":568,"image":727,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"bcb14b2f-7a32-41b9-90a6-2fd57a3d2d46\", \"id\": \"\"}-->","article",[731],{"slug":732,"name":733},"critical-minerals","Critical Minerals","private",{"id":49,"alt":736,"name":736,"focus":736,"title":736,"source":736,"filename":737,"copyright":736,"fieldtype":738,"meta_data":739,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/0e120af5f9/bm-the-white-house-1-e1660644407470.jpg","asset",{"alt":736,"title":736,"source":736,"copyright":736},"Feb 24, 2022","24th February 2022",[],[],1792773929464]