Chart: Can the US meet its critical mineral needs domestically?

Benchmark analysis shows that the US will fall short of meeting most of its critical mineral needs, even if all announced projects come online as planned.

Especially in cobalt, nickel and graphite, the US needs significantly more investment if it is to meet a greater proportion of its needs domestically.

This comes as US President Donald Trump is placing critical minerals under an ever stronger spotlight with the Executive Order he signed earlier in March to speed up permitting and accelerate public and private investments.

“The Executive Order injects much-needed momentum into US critical mineral production,” said Andrew Miller, Benchmark’s chief executive. “But in addition to accelerating project development, the US needs to grow the supply pipeline itself to truly reduce import dependence.”

What role can policy play?

In the US, the last five years have been especially active on the policy front for promoting domestic critical mineral exploration and production.

The Biden Administration’s Inflation Reduction Act and Bipartisan Infrastructure Law offered grants, loans and tax incentives for many projects along the battery supply chain.

Although the Trump Administration is looking to dismantle some aspects of these laws, it is still pursuing the overall aim of improving supply chain security. In comparison to Biden’s policies, Trump’s have a stronger focus on the upstream elements of the supply chain.

The Executive Order passed earlier this month, invokes the Defense Production Act to provide funding support for domestic critical mineral projects. It also aims to expedite the permitting process.

However, although permitting is a key bottle neck for scaling critical mineral projects in the US, resolving those issues is not a panacea given that most critical minerals in the US are in a deficit even if all announced projects come online as planned.

At Giga USA 2025, taking place 3-4 June in Washington, D.C., we will be joined by policymakers shaping critical legislation, industry leaders spearheading innovation, and investors fuelling domestic growth, united in the mission to strengthen the North American battery supply chain.

Register now with our Early Bird offer, available until April 25th.