President Joe Biden has limited time left in office. On Jan. 20, President-elect Donald Trump will be sworn in as the 47th President of the U.S. However, the outgoing president is confident that he’ll step down after having taken every possible action against China. In early December 2024, the Biden administration approved its largest package of sanctions on Chinese companies to date. More recently, companies like Tencent and CATL were designated as “Chinese military companies.”
In response to the sanctions, the Chinese government orchestrated a counterattack aimed at striking the U.S. where it hurts the most: exports of critical minerals essential for technology sectors such as semiconductors, electric vehicles, and renewable energy. With this move, China warned the U.S. it would cease selling gallium, germanium, and antimony if it blacklists an additional 140 companies.
This situation has forced the U.S. to respond. Notably, the government recently approved the reopening of Stibnite, an antimony mine in Idaho that was crucial during World War II and has been closed since 1996.
An Old Gold Mine That Conceals Something Even More Valuable: Antimony
For months, rare earth minerals and metals have been used as leverage in international trade. Whenever the U.S. imposes new sanctions on China, the Asian country responds by restricting the export of critical elements essential for several technology sectors. Rare earth elements are crucial for developing a wide array of technologies and devices. Despite efforts by the U.S., Europe, and Japan to achieve independence from Chinese supplies, China remains in a dominant position.
Anticipating further sanctions, in September 2024, the U.S. Forest Service submitted a draft record of decision to reopen one of the country’s largest gold, silver, and antimony mines. Like many other nations, the U.S. has previously neglected to utilize its natural resources, choosing instead to import materials from other countries. This approach allows the U.S. to obtain necessary resources while avoiding pollution and benefiting from lower labor costs overseas.
China’s limitation of imports has resurfaced the debate over self-sufficiency. Despite environmental concerns and worries from the Nez Perce Indian tribe, the Biden administration has approved the reopening of the Idaho mine. According to a 154-page report from the Forest Service, authorities made the decision after considering various environmental factors. However, the tribe remains concerned about its potential impact on the salmon population.
Owned by mining company Perpetua and backed by billionaire John Paulson, the mine is poised to benefit the U.S. economy and its technology sector significantly. It’s estimated that the mine will produce 450,000 ounces of gold each year, which will help fund various projects. However, the main target is antimony.
The mine alone is expected to supply 35% of the U.S.’s annual antimony needs. Perpetua recently pointed out that the project will generate more than $1 billion in local investment and create an average of 550 jobs in rural Idaho when it reaches full capacity in 2028.
Currently, China produces 48% of the world’s antimony. If the Idaho mine opens and is upgraded, it could become a crucial resource for U.S. industries. Antimony’s unique properties make it valuable in the semiconductor industry, battery alloys, and renewable energy applications. It’s also essential for the U.S. military in the manufacture of ammunition.
Image | Ende Gelände
.jpg){kind=link}
View 0 comments