Chart: Can the US meet its critical mineral needs domestically?

Benchmark analysis shows that the US will fall short of meeting most of its critical mineral needs, even if all announced projects come online as planned.

Especially incobalt, nickel and graphite, the US needs significantly more investment if it is to meet a greater proportion of itsneeds domestically.

This comes as US President Donald Trump is placing critical minerals under an ever stronger spotlight with theExecutive Order he signed earlier in Marchto speed up permitting and accelerate public and private investments.

“The Executive Order injects much-needed momentum into US critical mineral production,” said Andrew Miller, Benchmark’s chief executive. “But in addition to accelerating project development, the US needs to grow the supply pipeline itself to truly reduce import dependence.”

What role can policy play?

In the US, the last five years have been especially active on thepolicy frontfor promoting domestic critical mineral exploration and production.

The Biden Administration’sInflation Reduction Actand Bipartisan Infrastructure Law offered grants, loans and tax incentives for many projects along the battery supply chain.

Although theTrump Administrationis looking to dismantle some aspects of these laws, it is stillpursuing the overall aimof improving supply chain security. In comparison to Biden’s policies, Trump’s have a stronger focus on the upstream elements of the supply chain.

The Executive Order passed earlier this month, invokes the Defense Production Act to provide funding support for domestic critical mineral projects. It also aims to expedite the permitting process.

However, although permitting is a key bottle neck for scaling critical mineral projects in the US, resolving those issues is not a panacea given that most critical minerals in the US are in a deficit even if all announced projects come online as planned.

AtGiga USA 2025, taking place3-4 June in Washington, D.C., we will be joined by policymakers shaping critical legislation, industry leaders spearheading innovation, and investors fuelling domestic growth, united in the mission to strengthen the North American battery supply chain.

Register nowwith our Early Bird offer, available untilApril 25th.

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