J.A. Green & Co. Participates in InvestorIntel’s 6th Annual Cleantech & Technology Metals Summit
Ryan Caldwell, J.A. Green & Co.’s Policy Director, participated in a panel discussion in Toronto, Canada on May 15-16, 2017 to discuss the threats facing the U.S. defense industrial base and the METALS Act. The event, hosted by InvestorIntel, included experts and industry leaders from around the world who specialize in the production and development of critical materials.
The “Materials Essential To American Leadership and Security Act of 2017 (METALS Act)” was introduced by Rep. Duncan Hunter (CA) and co-sponsored by Reps. Walter Jones (NC) and Vicky Hartzler (MO) on March 7, 2017. The bill seeks to address the United States’ reliance on foreign sources for critical and strategic materials. For instance, the market for rare earth elements, which are necessary for numerous defense weapons systems, is currently dominated by China.
Dependence on foreign sources for critical materials introduces risk into the defense industrial supply chain and threatens to weaken U.S. national security. The METALS Act provides a reasonable and workable solution to assist companies through the Valley of Death with the creation of a Strategic Materials Investment Fund (SMIF) within the Department of Defense. The fund will help successful companies use their innovative manufacturing techniques and counteract foreign cost advantages and will hopefully spur the creation of a viable defense market for U.S. domestic producers.
The METALS Act will promote the U.S. defense industrial base, which has been declining for many years. This limited legislative intervention is politically feasible and will make a difference in decreasing the U.S. reliance on China, and other foreign sources, and provide a safe a secure supply chain for the Department of Defense.