When the United sStates snoozes, it loses
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Cesium was first designated a critical mineral by the Trump Administration’s Department of Interior in February of 2018.
I sounded an alarm on the pending sale of the world’s cesium monopoly by Cabot Corporation to Sinomine Resource Group Co. Ltd in late April (Mercenary Musing, April 22, 2019). It apparently fell on deaf ears as my subsequent reporting was upon closing of the deal (Mercenary Musing, July 1, 2019).
Due to our government’s apparent lack of concern and resulting inaction, what was previously an American-controlled market is now owned by the Chinese.
China’s cesium strategy is outlined in this press release of July 24. With the acquisition, Sinomine:
Sinomine Resource Group intends to control the world mine-to-market cesium supply chain. At this juncture, it appears to have accomplished that goal.
Meanwhile, back in the US of A, we are left to wonder if Trump’s critical mineral list with the numerous committees, reports, and studies that it generates is just another government boondoggle designed as make-work for career and revolving door bureaucrats.
Obama’s green energy programs in the early 2010s served only to waste billions of taxpayer dollars in serial bankruptcies and saddle us with very expensive light bulbs and much higher electricity costs.
In turn, what will all these new critical mineral government programs do except provide grants, credits, and subsidies that benefit the Deep State military-industrial complex and take our country further down the road to debt default?
It seems to me that China is once again the early bird that gets the worm while the US snoozes and loses.
Ciao for now,