The Subcommittee on Oversight and Investigations conducted an oversight hearing on mineral supply chains and the implications for the next space race. Subcommittee Chairman Paul Gosar (R-Ariz.) emphasized the importance of the hearing, stating, "Today’s subcommittee hearing on mining in space is more important than some may realize. Our competitors, including China, are far ahead of us. Mining in space is coming and the United States better be prepared."
Minerals such as copper, lithium, and cobalt play a vital role in our modern way of life. They are used in various high-tech applications, from smartphones and satellites to missile defense systems. Additionally, they are crucial for renewable energy technologies, electric vehicles, and battery storage. The global demand for minerals is projected to increase significantly in the coming decades.
According to the World Bank, mineral demand is expected to rise by nearly 500 percent by 2050. The demand for minerals used specifically in electric vehicle batteries, such as lithium and graphite, is anticipated to increase by up to 4,000 percent. This exponential growth in global mineral demand, coupled with China's dominance in mineral supply chains, poses a threat to America's national security and economic interests.
While there is still uncertainty surrounding the feasibility of space mining, the increasing investments by foreign adversaries, particularly China, in extracting minerals from celestial bodies exacerbate America's fragile mineral supply chain. To address this challenge, it is crucial for the United States to take necessary steps to secure its mineral supply chains and assert its leadership in mining and territorial control beyond Earth's orbit.
The hearing provided an opportunity for committee members to hear from experts on the future of space mining and gain insights into how this emerging field will shape the future of our critical mineral supply chain. By staying informed and proactive, the United States can ensure its competitiveness and protect its national interests in the evolving space race.
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For additional details, please follow this link: https://naturalresources.house.gov/news/documentsingle.aspx?DocumentID=415335
