Northern Dynasty Welcomes US Government Action to Address Critical Mineral Supply Chain Vulnerabilities

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[{"type":"text","content":"Northern Dynasty Welcomes US Government Action to Address Critical Mineral Supply Chain VulnerabilitiesVANCOUVER, BC / ACCESSWIRE / October 7, 2020 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) (\"Northern Dynasty\" or the \"Company\") acknowledged today the first tangible step the US government has taken to address the threat to America's economy and military security posed by a severe over-reliance on foreign adversaries for the supply of critical mineral and metals.On October 5, 2020, the United States government announced it would direct the $60 billion US International Development Finance Corporation, a federally-funded lender and investor created under President Trump, to invest $25 million in a UK-based mining group that specializes in producing rare earth metals. The investment in TechMet Ltd. will go toward developing a mine in Brazil that produces nickel and cobalt, both essential for the manufacture of electric vehicles, mobile phones and batteries.The announcement follows an Executive Order issued by President Trump last week on ‘Addressing the Threat to the Domestic Supply Chain from Reliance on Critical Minerals from Foreign Adversaries.\" In it, he declares a national emergency and states \"our Nation's undue reliance on critical minerals, in processed or unprocessed form, from foreign adversaries constitutes an unusual and extraordinary threat.\"The Trump Administration has recognized the threat to America's economic and military security, its domestic manufacturers and other industries, and its ability to respond to climate change through the development of clean and renewable power, since Executive Order 13817 (‘A Federal Strategy To Ensure Secure and Reliable Supplies of Critical Minerals') was issued in 2017. However, the Tech-Met investment represents the first tangible action to address this threat.The US government previously acknowledged there are 35 minerals \"essential to the economic and national security of the United States\" that have supply chains vulnerable to disruption, including rhenium. For 31 of these minerals, the country is reliant on foreign producers for between 50 - 100% of its annual needs.The most recent Executive Order goes further, authorizing use of the Defense Production Act to speed the development of mines in the US, and opening the door to governmen...

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