The Energy Department is exploring several ways to expand the processing of rare earth elements in the United States, including the possibility of building those facilities itself, a top agency official said Wednesday.
Lou Hrkman, DOE’s principal deputy assistant secretary for energy efficiency and renewable energy, said the department recognizes that investors are loath to put “$1 billion or even $1” toward U.S. processing projects when China “distorts the market at its whim.”
Speaking to industry officials at the U.S. Chamber of Commerce’s Critical Minerals Summit, Hrkman said DOE is looking at ways to make investment in U.S. processing projects more attractive — or even construct them itself.
“A legitimate question is, should the U.S. government step in and de-risk these projects? This is an issue we will examine,” he said.
