Business
GREAT WESTERN MINERALS GROUP CEO TESTIFIES BEFORE U.S. CONGRESS REGARDING PENDING CRITICAL MINERALS AND RARE EARTH LEGISLATION
GREAT WESTERN MINERALS GROUP CEO TESTIFIES BEFORE U.S. CONGRESS REGARDING PENDING CRITICAL MINERALS AND RARE EARTH LEGISLATION.
About this update from Great Western Minerals Group Ltd
[{"type":"text","content":"GREAT WESTERN MINERALS GROUP LTD. NEWS RELEASE TSX Venture Symbol: GWG CUSIP: 39141Y 10 3OTCQX: GWMGF Great western minerals group CEO Testifies before U.S. Congress regarding pending critical minerals and rare earth legislation June 6, 2011 – Washington, D.C.: Jim Engdahl, President and Chief Executive Officer of Great Western Minerals Group Ltd. (\"GWMG\"), provided expert testimony to the U.S. House of Representatives Subcommittee on Energy and Mineral Resources on two key pieces of legislation: the National Strategic and Critical Minerals Policy Act of 2011 (H.R. 2011) and the Resource Assessment of Rare Earths Act of 2011 (H.R. 1314). He urged Members of Congress to work together on a bipartisan solution to the rare earths and critical materials crisis in the United States and incorporate provisions from both bills under consideration to “demonstrate important leadership in the global community regarding the ever more important issues surrounding the United States’ precious natural resources.” “These bills offer important elements of a much-needed comprehensive solution to challenges in developing a complete, reliable and competitive rare earth supply-chain in the United States,” Engdahl stated. Arguing that a solid understanding of the availability of critical minerals is a key starting point for their successful development, he cited specific ideas within the pending legislation as necessary: a supply-chain analysis to inform the market of potential shortages; creation of a small inventory of those rare earths in short supply; and development of downstream capabilities to produce metal. Engdahl also advocated for industry and government officials to reform the current framework for issuing permits to develop rare earth mines. “GWMG does not support shortcuts that skirt important environmental protections,” he said. “Rather, we are encouraging a streamlining of the permi...