The United States' list of key minerals has expanded significantly: copper, silver, and other minerals have been added, bringing the total number of minerals to 60.

It is noted that the United States has included copper and silver in its expanded list of critical minerals essential to the U.S. economy and national security. This new list compiled by the U.S. Geological Survey adds 10 new minerals compared to the 2022 version, bringing the total to 60. Other notable additions to the list include uranium, metallurgical coal, potash, rhenium, silicon, and lead. The inclusion of copper and silver confirms the draft list previously announced by the U.S. Geological Survey. The U.S. Geological Survey stated that the list was developed using an economic model to assess the potential impact of mineral products on trade disruptions. This assessment covers 84 mineral products, 402 industries, and over 1,200 scenarios, providing policymakers with a more realistic and actionable framework. The critical minerals list will serve as the basis for the initiation of section 232 investigations, consideration of tariffs, and implementation of trade restrictions by the Trump administration, as seen earlier this year with copper. The list will also provide guidance for investments in mineral extraction, mining waste resource recovery, strategic reserves, U.S. mineral processing tax incentives, and streamlining mining permits. The update to the list comes shortly after both the U.S. and China agreed to resolve a dispute over rare earth minerals, with 15 categories of rare earth minerals now included in the U.S. Geological Survey list (a quarter of the total). Copper and potash first included to address supply chain risks Copper, as an excellent conductor of electricity, is widely used in transportation, national defense, and electricity networks. With the development of data centers and artificial intelligence driving an increase in electricity demand, its strategic importance is becoming more pronounced. When the draft list of critical minerals was announced at the end of August, Juan Ignacio Diaz, head of the International Copper Association, stated that copper "supports electrification, national defense, and clean energy, and its supply chain is facing increasing pressure." Designating copper as a critical mineral "is advantageous for the United States as it can strengthen its competitiveness and the foundation of its energy transition." The U.S. imports nearly half of its copper consumption, mainly from Chile, Peru, and Canada, while most global copper refining capacity is concentrated in China. The resources industry has been advocating for the U.S. government to include metals such as copper on the list in order to receive federal funding support and a streamlined government permitting process. Potash is primarily used in fertilizer production, with approximately 80% of the potash used in the U.S. imported from Canada. Kendra Russell, head of the Energy and Mineral Resources team at the U.S. Geological Survey, stated that potash was included because the latest modeling shows that major supplying countries may set up trade barriers. The fertilizer industry lobbying group, the Fertilizer Institute, has been pushing for potash to be classified as a critical mineral in order to seek tariff exemptions. Inclusion of silver raises market concerns The inclusion of silver has raised concerns among precious metal traders and manufacturers reliant on the material. The U.S. heavily depends on imports to meet domestic silver demand, and any tariffs imposed on silver could have a serious impact on the metal market. Silver has a wide range of industrial applications in areas such as electronic products, CECEP Solar Energy panels, and medical devices. USGS stated that the inclusion of silver is to address the low-probability but high-impact potential scenario of a disruption in supply from Mexico. It has been reported that this new list categorizes critical minerals into high-risk, moderate-risk, and low-risk based on the level of risk. The new assessment method takes into account the economic consequences of supply shocks and highlights the vulnerability of reliance on a single domestic producer, known as "single point failures." Sarah Ryke, Deputy Director of the USGS, stated that "in 2024, the mineral resource-related industries contributed $4 trillion to the U.S. economy, and using this method can determine which industries are most affected by supply disruptions."