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Every business owner in America should care more about something they rarely think about: critical minerals. These raw materials form the backbone of virtually every technology that powers our modern economy and are found in everything from our smartphones and vehicles to energy technologies and medical devices. They power all of the modern world, yet most of us rarely consider their importance until supply problems arise.
As an Indiana business executive in energy and tech, I’ve seen how supply chain disruptions ripple through our economy. When critical materials become scarce or suddenly expensive, it’s not just large corporations that suffer. Small and medium-size businesses feel the pain most acutely, often without understanding the root cause.
The ripple effects ultimately reach every consumer, turning supply chain disruptions thousands of miles away into higher prices for individuals in our communities.
The truth is that China has positioned itself to control the supply of these resources across the globe. This isn’t just a national security concern—it’s a direct impact to business stability and profitability. When I entered industry in the late 1990s, we saw the threat, and because we failed to act then, we are now living with the consequences of that inaction in real time.
When one country dominates mineral supply chains, American businesses face unpredictable price spikes, extended delivery delays and vulnerability to trade disputes entirely outside our control. Indiana manufacturers have already experienced production slowdowns because critical components weren’t available when needed, and technology companies have absorbed cost increases when mineral prices suddenly jumped.
Whether you are in the industry of manufacturing, energy, transportation, medicine, military, agriculture or consumer business, you are impacted by accessibility to critical minerals daily.
This is why U.S. Sen. Todd Young’s Finding ORE Act matters in our state. (ORE stands for Opportunities for Resource Exploration.)
The bill enables the U.S. Geological Survey to form partnerships with resource-rich nations around the world. America provides geological mapping expertise to help these countries discover their mineral resources, and in exchange, American businesses receive preferred access to develop those resources before companies from China or elsewhere.
For Indiana’s business community, this legislation creates immediate benefits. Our state’s automotive, medical and defense sectors depend heavily on reliable access to these minerals. With more diverse supply sources, these industries can avoid sudden cost increases and continued disruptions from foreign interference.
This also creates new business opportunities rather than simply addressing a problem. Indiana companies will gain access to newly discovered mineral deposits, which brings the potential for opening entirely new markets. When paired with the president’s recent executive order to streamline permitting, businesses will face fewer obstacles in bringing these essential materials to market.
The Finding ORE Act acknowledges something we in the business community have known for years—that mineral security directly impacts our ability to plan, grow, innovate and remain competitive. The partnerships this legislation facilitates create opportunities that simply wouldn’t exist otherwise.
I extend my kudos to Young and his colleagues—Sens. John Hickenlooper, D-Colorado; Chris Coons, D-Delaware; and John Cornyn, R-Texas—for their leadership on an issue that, while often overlooked, is essential to our continued prosperity and independence.•
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Wrightsman is the founder and lead adviser at Indianapolis-based XC Technology.
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