1、WESTERN USA MINING 2024-25Pre-Release EditionChanging TidesNavigating the waters of a domestically produced energy transitionIn 2023,the United States achieved a record high for mineral imports,marking an all-time low for supply chain stability.According to the US Geological Surveys(USGS)2023 Minera

2、ls Commodity Summaries report,the US was more than 50%reliant on 51 minerals.The US is also 100%net import reliant for 15 of those 51 minerals,12 of which are deemed“critical”according to the USGS 2022 Final List of Critical Minerals.In 2024,not much has changed.The US is more than 50%reliant on 49

3、minerals and 100%reliant on the same 15.For the country to achieve a secure green energy transition,it is critical to ensure a supply of domestically produced material.The US government pledged net zero carbon emissions by 2050 and that 50%of vehicles sold by 2030 will be electric.To reach carbon ne

4、utrality,90%of electricity must be generated by renewable technologies.It is estimated that 384 mines must be built by 2035 to meet EV and energy storage battery demand alone,according to Benchmark Intelligence.This does not factor in the materials needed for solar panels,wind turbines,or electrical

5、 infrastructure.The outlook is bleak:the share of fossil fuels in global energy use decreased only 4%from 1997 to 2022,according to Vaclav Smils“Halfway Between Kyoto and 2050”report.Though not impossible,to achieve net-zero,affluent countries like the US will incur minimum costs of 20%of annual GDP

6、.Based on 2023s GDP,that would be equivalent to US$5.47 trillion.However,mining of metals and minerals contributed US$185 billion to the countrys GDP in 2023,according to the USGSs 2024 Minerals Commodity Summaries report.The governments aggressive plans to advance the green energy transition lacks