Title: Five Key Decisions to Revitalize U.S. Critical Mineral Stockpiles
Author/Institution: Columbia University – Center on Global Energy Policy (CGEP)
Publication Year: 2025
The 2025 report Five Key Decisions to Revitalize U.S. Critical Mineral Stockpiles by the Center on Global Energy Policy (CGEP) provides a roadmap for modernizing America’s approach to strategic reserves. Building on decades of lessons from the Defense National Stockpile Center, the study identifies five critical choices: defining which minerals to prioritize, determining optimal reserve levels, balancing physical stockpiles with financial instruments, clarifying public–private roles in management, and ensuring international coordination. The analysis stresses that poorly defined priorities and outdated management structures have left U.S. reserves underprepared for the volatility of today’s global mineral markets.
One of the report’s key contributions is its recognition that stockpiles cannot be seen solely through a national security lens. Instead, they must be integrated into a wider industrial policy that addresses clean energy transitions, supply chain vulnerability, and commercial realities. By comparing U.S. practices with those of other countries—including China’s vast strategic reserves—the study highlights the urgency of reforming governance and financing models if the U.S. is to remain competitive in securing access to cobalt, rare earths, and lithium.
The findings directly resonate with this week’s announcement of a Pentagon cobalt procurement program valued at up to $500 million. While the DoD’s tender represents an immediate tactical step, the CGEP report highlights that the real test lies in structural reform: defining priorities, integrating stockpiles with industrial needs, and aligning with allies. The juxtaposition of policy analysis and current events illustrates that the U.S. is at a crossroads—choosing between ad hoc procurement measures and a strategic framework that ensures resilient mineral security for decades to come.