U.S. President Joe Biden has invoked the Defense Production Act (DPA) to accelerate the build-out of a domestic battery materials supply chain.
A measure first used by President Truman to boost U.S. steel production in the Korean War will now be tailored to future energy transition metals such as lithium, cobalt and nickel.
The rise of the oil economy in the second half of the century shifted the strategic focus to energy security, but as energy transitions from fossil fuels to renewables, enabling metals are now back on governments' priority lists. The United States has limited direct exposure to the potential loss of Russian lithium, manganese or cobalt.
Western critical metal supply chains were already starting to change in response to the strategic need to loosen dependence on Chinese supply. New projects will be given a helping hand, both in terms of capital expenditure and winning public acceptance.
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