SMT007 Magazine

SMT007-Jan2024

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10 SMT007 MAGAZINE I JANUARY 2024 SMT Perspectives and Prospects by Dr. Jennie S. Hwang, CEO, H-TECHNOLOGIES GROUP Tumultuous forces involving geopolitical pull, along with technological and market push, have emerged since I published the first two parts of this topic in February and May 2022, respectively. Here, I will consider the impact of these new forces. Critical materials and minerals that are the foundation for essential goods have long been sourced from areas with wars, near-wars, and some unfriendly nations; this causes high- risk concerns. When Russia invaded Ukraine on Feb. 24, 2022, for example, it elevated the uncertainty of materials and minerals. en Hamas' attack on Oct. 7, 2023, added further peril to the availability, reliability, and security of the global supply chain. e potential haz- ards from these high-risk uncertainties have drawn intense attention across the national landscape. Energy use (specifically electricity) contin- ues to increase. is demand comes from the phenomenal growth of power-hungry data centers—some new data centers need grid connections as large as 500 megawatts—and increased deployment of potent AI tools, the need for high-performance computing, and a push for electrification. ese market forces create a heightened criticality for some materi- als and minerals, including lithium, nickel, and some rare earth minerals. On the national level, efforts have been made to preserve these minerals, yet a robust and integrated national strategy is needed that includes plans that are deliberate, comprehen- Critical Materials: A Compelling Case, Part 3

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