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The recent passage of the Inflation Reduction Act of 2022 along with the increased attention given to clean energy transportation alternatives and environmental protection has highlighted the increasingly important role played in the economy by what are termed critical minerals and rare earth elements. The Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) has published a very helpful primer that explains what these items are, where the main sources of supply are, and their end uses and applications. The IGF is a forum of more than 80 member countries established to support the advancing of sustainable development goals through effective laws, policies, and regulations for the mining sector.
As the primer states, critical minerals are the minerals and metals necessary for renewable energy and clean technology. It further states that “there is no universally agreed upon definition of what “criticality” means, and criticality changes over time, depending on the needs of society and the availability of supply”. Rare earth elements are “a set of 17 metallic elements that are considered critical because of their properties”. These elements are not in fact rare but are referred to as rare because they can be difficult to extract and can be complex to process.
The need for and importance of these minerals and elements will only increase and will continue to have major impacts on United States trade policy and the logistics industry.
This November, we are honored to feature Tracey Suggs, Import Specialist at JAS Forwarding USA Inc., for his tireless advocacy for individuals with Down Syndrome. While October marks Down Syndrome Awareness Month, Tracey and his family advocate every day for the empowerment and inclusion of individuals who face intellectual and developmental challenges. Inspired by his daughter, Treana, who has Down Syndrome, Tracey is driven to ensure that every individual can live their fullest life. Treana's zest for life and inspiring spirit is a testament to the impact of love, perseverance, and understanding that Tracey strives to bring to his work and community. Tracey’s unwavering commitment to making a difference embodies our values at JAS, reminding us all of the importance of inclusivity and advocacy in both our professional and personal lives.
Tracey has been with JAS for 3 years and has been in the industry for over 20 years. Tracey has a passion for sports, fitness, art, community advocacy (special needs/disadvantaged youth), and spending time with family.
JAS Forwarding VP Compliance, Laurie Arnold joined forces with JAS Forwarding Global Development Director Jennifer Koon, and Regional Sales Director Lindsay Gambee to attend the International Compliance Professionals Association (ICPA) Fall Conference (Western Cowboy Theme) in Grapevine, Texas from October 20-23.
They were able to meet with numerous members of the trade community and discuss current events and network.
On November 1, 2024, BIS imposed a civil penalty of $500,000 against a semiconductor wafer manufacturing company. The U.S. subsidiary shipped approximately $17.1 million of semiconductor wafers company listed on the BIS Entity List, without the required licese/authorization.
The company voluntarily disclosed the conduct and cooperated which resulted in significant reduction in the penalty.
To read more, check out the final order below.
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