cross-posted from: https://lemmy.ml/post/26662591
this post was submitted on 02 Mar 2025
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This whole thing is so silly. It costs hundreds of millions and something like 18 years to build a rare earth mine. What company would be willing to risk that investment without any sort of meaningful security arrangement?
The dream is more important than reality.
This is how some of Trump's real estate endeavors worked before he got into politics: hype, and sell to the public markets at an inflated price. For all people criticize him, he’s very good at encouraging the masses to buy things they really shouldn’t buy.
And later? Doesn’t matter, someone else is holding the bag after that, and it’s onto the next thing. Sounds a lot like crypto TBH.
https://www.cnbc.com/2025/03/02/trump-announces-strategic-crypto-reserve-including-bitcoin-solana-xrp-and-more.html
You don’t say
A strategic crypto reserve? Hahaha hahaha hahaha oh my god.
Has he checked with Elon about this and gotten approval? Dogecoin seems to be missing.
Because all they want to do is point at the paper and say, "look we made money!"
“and now here’s a big tax cut for the mega rich!”
There's also the issue that only Europe and global south are serious about using rare earths. The US even if it wanted to be a customer/user, is further away from more motivated manufacturing.
Not to nitpick, or make you defend yourself, but I would be interested to see info linked to this developmental timeline.
Most mines are like 3-5 years to develop, and that includes permitting etc.
The number was something I heard on this interview. They seemed to have relevant knowledge. https://www.npr.org/2025/02/27/nx-s1-5308085/rare-earth-minerals-expert-discusses-u-s-ukraine-negotiations-on-ukraines-resources