Last year, the U.S. Geological Survey (USGS) released its 2022 list of 50 minerals that are essential to the function of our society, especially the economy and national security. Whether it's indium for LCD screens and aircraft wind shielding, cobalt for iPhones, uranium for nuclear reactors and munitions, rare earth elements for wind turbine magnets, lithium for rechargeable batteries, or tantalum for electronic components, if we do not have an ample supply, bad things will happen. The Energy Act of 2020, which directs an update of this list at least every three years, defines a "critical mineral" as a nonfuel mineral, element, substance, or material "essential to the economic or national security of the United States" and which has a supply chain "vulnerable to disruption." Critical minerals are further characterized as serving at least one essential function in the manufacturing of a product, the absence of which would have significant consequences for the economy or national security.
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