The Role of Critical Raw Materials in US Economy

Abstract

The U.S. economy and especially its manufacturing sector, is highly dependent on the supply of raw and semifinished materials. While the United States have extensive mineral resources and are a leading global materials producer, a high percent of many materials that are critical to U.S. manufacturing are imported. The so-called critical minerals are central to the manufacture of a wide range of high-tech products. These include mobile phones, computers, flat-screen monitors, solar panels, rechargeable batteries, air conditioners and defense industry technologies and products. Critical minerals play a significant role in USA national security, renewable energy development and infrastructure. The article provides an overview of trends in mineral supply risks and the critical factors that determine the mineral supply chain risks.