[Music] In the US, demand for metals critical to the green transition continues to climb sharply. The combined demand for lithium, nickel, and cobalt is expected to be 23 times higher in 2035 than it was in 2021. But at the same time, the development of

new mines that could help fulfill that need has slowed to a crawl since 2002. Only three new mines for crucial transition metals have entered production there, according to a report from S&P Global. On average, it takes 29 years for a mine to go from discovery to

production in the US. That's the second slowest in the world and compares to a global average of about 23 years, the report says. There are three key factors behind the tortoise-like progress: the litigious culture of the US, the complex process for getting permits on federal

lands, and low social acceptance of mining operations. The US is not short of critical resources; its reserves and resources of lithium are about twice that of Australia, which produces around half of the world's lithium. It has more copper than Canada and Australia combined, but uncertainty over the

timelines for mines in the US has pushed investors to other countries. Exploration budgets have been 57% higher in Australia and 81% higher in Canada over the past 15 years. Adding to the problem, more than half of America's mining workforce—some 221,000 workers—is

expected to retire by 2029. Today, the country is 100% import-reliant for 12 minerals the US government classifies as critical; it's over 50% import-reliant on 31 more critical minerals. China, in particular, is a concern for the US; Chinese companies

Control 90% of the world's processing capacity for rare earths and more than half the processing capacity for graphite, cobalt, and lithium. Making matters worse, China recently banned the export of certain high-tech materials, including gallium, germanium, and antimony, to America in

response to U.S. restrictions on semiconductor-related exports to China. America is making moves to reduce its reliance on China. In 2022, the U.S. created the Mineral Security Partnership, which consists of 14 nations and the EU, to develop sustainable supply chains of

critical minerals. The U.S. also signed a critical minerals deal with Japan in 2023 and is pursuing similar deals with other allies. But China's mineral projects benefit from subsidies, easier access to financing, superior processing technology, lower costs, and laxer environmental standards. Breaking its chokehold on the sector won't be easy.

The US needs more mines for crucial transition metals | FT Energy Source

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미국 내 중요 광물의 높은 수요, 느린 공급

리튬, 니켈, 코발트에 대한 수요는 2035년까지 크게 증가할 것으로 예상됩니다.

미국의 신규 광산 개발은 2002년 이후 상당히 둔화되어 단 3개의 신규 광산만이 생산에 들어갔습니다.

광산 개발을 방해하는 요인으로는 소송, 복잡한 인허가 절차, 낮은 사회적 수용도 등이 있습니다.

미국은 중요한 광물을 상당량 보유하고 있지만, 일정에 대한 불확실성이 투자자들의 발목을 잡고 있습니다.

미국 채굴 인력의 상당수가 은퇴를 앞두고 있어 문제가 더욱 악화되고 있습니다.

해외 광물에 대한 미국의 의존도와 중국의 지배력

미국은 주요 광물의 수입에 크게 의존하고 있으며, 중국이 전 세계 처리 능력의 상당 부분을 통제하고 있습니다.

최근 중국의 특정 첨단 소재에 대한 수출 금지 조치로 상황이 더욱 복잡해졌습니다.

중국에 대한 의존도를 줄이기 위한 미국의 노력

미국은 광물 안보 파트너십을 결성하고 공급망 다변화를 위해 다른 국가들과 협정을 추진하고 있습니다.

그러나 보조금, 자금 조달, 기술, 비용, 환경 규제에서 중국이 가진 장점은 도전 과제가 되고 있습니다.

The US needs more mines for crucial transition metals | FT Energy Source

The US needs more mines for crucial transition metals | FT Energy Source

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