President Trump was in Pennsylvania yesterday for an AI and energy summit where some of the world's biggest companies pledged tens of billions of dollars to accelerate the development of artificial intelligence infrastructure in Pennsylvania. One phrase that kept coming up time and time again was "clean, beautiful coal," as the President touted its indispensable role in the baseload energy mix that will power the massive data center energy demand that is now upon us—and growing. The good news keeps coming for rare earths producer MP Materials, which yesterday announced a deal with Apple for $500 million in rare-earth magnets. The magnets will come from MP's Texas facility, using recycled materials processed at a site MP will build in California.
And during a House hearing yesterday, experts warned the House Foreign Affairs Committee that China's dominance of minerals supply chains has become the "life or death matter" of this century. China's export restrictions on minerals required for everything from technology to defense have prompted concern in the U.S. and among international leaders. During the hearing, lawmakers pressed the experts on how the U.S. can best counter the increasingly dire situation that has not only become an increasing economic concern but a top national security issue. Former Senator Joe Manchin, who was testifying, put it simply: "[We've] got to produce."
That's your mining minute for this morning, highlighting some of the mining-related matters that are on our minds here in Washington and beyond. Follow us on the National Mining Association's channels, as well as on Minerals Make Life and Count on Coal, for more on the latest news and policies impacting mining.
