Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
Like
Bookmark
Share
Add to Playlist
Report
Dan Crenshaw Asks Experts About 'Untapped' Critical Mineral Deposits In The United States
Forbes Breaking News
Follow
5/30/2025
During a House Energy and Commerce Committee hearing last week, Rep. Dan Crenshaw (R-TX) spoke about the deposits of critical minerals that are untapped in the United States.
Category
🗞
News
Transcript
Display full video transcript
00:00
I recognize the gentleman from Texas, Mr. Crenshaw, for five minutes for his questions.
00:04
Thank you, Mr. Chairman. Thank you to all our witnesses for being here.
00:07
Critical minerals are the backbone of a modern economy and a modern military,
00:12
from semiconductors to advanced weapons systems.
00:15
But today, the U.S. imports between 50% and 82% of the critical minerals we need.
00:19
So where are they coming from?
00:21
It's been mentioned plenty of times here. They're coming from China.
00:25
That's not good.
00:25
Our national security, our national industrial base, our economic future,
00:29
dependent on supply chains we don't control from regimes we cannot trust.
00:35
Why? Well, mostly because our laws and regulations have made it virtually impossible
00:39
to open up new mines in this country.
00:41
And even when we do mine, we still have to ship the raw materials overseas
00:45
just to get them refined because we've offshored our processing capabilities.
00:50
I want to commend the Trump administration for taking some meaningful steps
00:53
to address this with executive action.
00:55
The executive order on critical minerals was a step in the right direction by cutting red tape.
00:59
But we need to codify this.
01:02
This is Congress's responsibility, and we're behind.
01:05
You know, China didn't dominate this space by accident.
01:08
It's a long game.
01:09
Decades of strategic investments in resource-rich nations across Africa, Asia, Latin America.
01:13
In 2023, China was the top supplier for 29 out of the 50 critical minerals identified
01:18
by the U.S. Geological Survey.
01:21
So that's what it looks like when a global adversary plays chess,
01:23
and we're still playing checkers.
01:24
And I think it's time we act serious about this, start securing our supply chains,
01:28
rebuilding our refining capacity, and cutting the red tape that's left us dependent and vulnerable.
01:33
I might add, I think this is becoming more of a bipartisan issue.
01:36
I think everybody starts to realize we need these critical minerals.
01:39
My question, my first question for Mr. Hammond, can you explain how one of the problems we have is
01:46
there's a lot of radical environmental groups holding up critical mineral mining
01:52
and related infrastructure projects throughout the court system?
01:57
I mean, it's not just critical mining.
01:58
Sometimes it's an off-ramp of a highway.
02:00
How could we address that?
02:04
So that's an incredible issue that you brought up, and it's a huge problem.
02:10
I spoke earlier about judicial reform.
02:13
What happens is you can go through, as we've talked about earlier,
02:16
decades-long process to get a mine off the ground.
02:20
It could be approved by an agency, but an unfriendly environmental group can drop in,
02:26
file litigation, and tie that same project up for additional years or kill it all together.
02:33
Capital only has, you know, can wait around for only so long before it goes to another place,
02:38
so that's just one way that they have in their toolbox to kill our progress on mining.
02:44
Yeah, well, I'm not sure it would be in our jurisdiction for judicial review,
02:48
but is there any particular bills that come to mind that seek to fix this problem that we should be aware of?
02:53
So over the years, I think likely a judiciary, but also a natural resources,
02:59
they've looked at what's called EJA reform.
03:02
Basically, under EJA, you can file litigation, then go to the judge,
03:07
and he can award you attorney's fees at the end.
03:10
So we're basically, as a federal government, financing litigation against ourselves.
03:15
Huh. That doesn't make sense.
03:17
What about unworkable environmental regulations that affect investment decisions for companies
03:22
looking to develop domestic critical mining production or mineral production?
03:27
Sure. So if you are a company that's looking to get involved in this business
03:31
or expand operations in this country,
03:34
it's fairly intimidating to look down the barrel of the regulations that we've set forth.
03:39
So what I think the solution is giving consistent and early guidance to companies
03:48
what the federal government is going to require to get through a permitting process.
03:54
An investor recently told me that if you want to unleash hundreds or billions of dollars in mining
04:00
in the near future, tell the company that you're going to do an EIS in a year and not four years,
04:05
and then they'll get really interested and money will start to flow.
04:09
Yeah. As a general question, I mean, do we have those resources here in the United States
04:15
that are just untapped?
04:17
Yes. I think we spoke about that a little sooner, but yes,
04:22
we have abundant critical minerals in this country.
04:25
I think in the state of Utah alone, we have 40 out of 50 critical minerals.
04:29
So now look at California, Arizona, and so on and so on.
04:32
We have the potential here.
04:34
Yep. I think it's important to keep in mind that we can't have a piecemeal segmented process.
04:37
We need to have the mineral extraction, the processing, and the energy all at the same time,
04:42
or else we're not doing what we actually need to do to create the integrated supply chain.
04:46
That kind of gets to my next question.
04:48
In my limited time for Ms. Sweeney, China actively pursuing all these projects around the world.
04:54
They have the full supply chain that you just mentioned.
04:56
Is there any example in the United States where we have a full supply chain for any critical mineral?
05:02
Beryllium comes to mind, mined in Utah, processed in various facilities that are all under materion, natural resources.
05:14
Perhaps that case study requires more of our attention, how we did that, and maybe we can be replicated.
05:21
I'm out of time.
05:22
I yield back.
Recommended
6:41
|
Up next
Gary Palmer Witness About Improving Mining And Refining Permit Process For Critical Minerals
Forbes Breaking News
5/30/2025
5:33
Neal Dunn: US Needs To Create 'Immediate' Demand For 'Every Level' Of Critical Mineral Supply Chain
Forbes Breaking News
5/30/2025
4:30
Dan Crenshaw: Some Of The FDA's Systems Have 'Not Kept Up With Modern Science'
Forbes Breaking News
7/28/2025
4:46
Raja Krishnamoorthi Brings Props To Show How 'Dangerously Reliant On China' U.S. Is
Forbes Breaking News
7/23/2025
4:54
Tim Scott Asks Witness About Expediting Permitting Process For Critical Mineral Mining Operations
Forbes Breaking News
5/28/2025
2:05
Chris Ellison to step down and pay almost $9 million to Mineral Resources over tax evasion allegations
ABC NEWS (Australia)
11/5/2024
5:27
Mark Kelly Asks DoD Nominee If US Should Build Its Own Critical Mineral Stockpile
Forbes Breaking News
4/30/2025
5:10
'We Don't Have The Capacity': Joe Manchin Warns That U.S. Can't Produce Needed Minerals Domestically
Forbes Breaking News
7/16/2025
6:13
Brett Guthrie Asks Experts How China Uses 'Market Manipulation' To Stunt US Rare Earth Industry
Forbes Breaking News
5/30/2025
6:42
Mike Simpson Asks Energy Secretary Chris Wright About The Future Of U.S. Nuclear Development
Forbes Breaking News
5/9/2025
5:38
James Moylan: Utilizing Mineral Deposits Outside Of Guam Would 'Greatly Enhance' National Security
Forbes Breaking News
7/16/2025
6:45
Susie Lee Asks Energy Secretary Chris Wright About Potential Expansion Of Geothermal Projects
Forbes Breaking News
5/9/2025
5:13
'I Never Ask Incorrect Questions': Diana DeGette Grills Secretary Wright On Cuts To Office Of Nuclear Energy
Forbes Breaking News
6/11/2025
6:41
Energy Secretary Chris Wright Touts 'Golden Era Of American Energy Dominance'
Forbes Breaking News
6/10/2025
3:40
Young Kim: U.S. Needs 'Bold, Global' Strategy To Reduce Dependence On Chinese Minerals
Forbes Breaking News
7/16/2025
5:32
Joe Manchin Tells Young Kim That U.S. Can Rely On Australia And Canada For Minerals—Not Just China
Forbes Breaking News
7/16/2025
4:48
These Billionaires Are Giving $1 Billion To Boost Economic Mobility Using A.I.
Forbes
yesterday
5:20
‘Smoke And Mirrors’: How This Entrepreneur Exaggerated And Self-Promoted Her Way Into Turmoil
Forbes
2 days ago
10:34
Most Of Trump's Tariffs Are Now In Place—What Does This Mean For The Economy In 2nd Half Of 2025?
Forbes
2 days ago
0:51
Instacart Reports Better-Than-Expected Q2 Earnings, Shares Move Higher
Benzinga
2 days ago
0:46
Firefly Launches Hot IPO, Backed by $1.1B in Contracts and NASA Moon Missions
Benzinga
2 days ago
0:50
Pinterest Delivers Revenue Beat and Gen Z Surge, But Tariff Concerns and EPS Miss Weigh on Shares
Benzinga
2 days ago
5:31
Trump Hosts ‘Peace Deal’ With Azerbaijan and Armenia That Gives U.S. Access to Key Transit Route
TIME
2 days ago
1:40
Canyon Fire Forces Thousands to Evacuate North of Los Angeles
TIME
2 days ago
1:16
Israeli Prime Minister Netanyahu Says He "Intends to" Take Over Gaza, Remove Hamas
TIME
3 days ago