Biden Admin cancels land lease for the ONLY future U.S. Nickel mine, giving China even more power
Another reason why a compromised President is a HUGE problem
Biden Admin has enacted a wide spread 20 year mining ban in north Minnesota where 95% of the U.S. nickel reserves reside. This cancels a Trump era emergency 56 year lease agreement with Twin Metals to construct a nickel and other critical metals mine.
The move leaves the United States in a highly vulnerable state where only one nickel mine will be operational, the Eagle Mine located in Michigan’s upper peninsula. The mine currently produces 1.5% of the world’s nickel supply, but it’s scheduled life is dwindling with experts stating it only has 3 years left of life.
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How important is Nickel?
Nickel is used in all clean energy solutions, but it is most important for electronic vehicles (EVs), geothermal and hydrogen energy.
Considering the push for Green Energy and the move to EVs, banning the mining of 95% of the U.S. nickel reserves and shutting down the plans for the Twin Metals project is incredibly short sided.
The demand for critical minerals is increasing worldwide as the world moves to more applications needing battery minerals. The World Bank estimates that the production of battery minerals, including graphite, nickel and cobalt, could increase by 500 percent by 2050 to meet the growing demand for advanced energy technologies.
The U.S. has seen a decline of nickel production with a 8000 ton reduction since 2015.
The Twin Metals mine project in northern Minnesota would have been the ONLY operating nickel mine in the United States and the Biden administration has cancelled it’s 56 year lease.
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