President Joe Biden Issues Order Prohibiting Chinese Mining Company MineOne from Owning Land Near U.S. Air Force Base Due to National Security Concerns

President Joe Biden has enacted an executive order requiring the Chinese mining firm, MineOne, to sell a plot of land and dismantle its equipment at a site in Wyoming. This decision follows an investigation by the Committee on Foreign Investment in the United States (CFIUS), which found that the company, closely linked to the Chinese government, poses a potential threat to national security.

The investigation revealed that MineOne had acquired land near the Francis E. Warren Air Force Base in Cheyenne, Wyoming, in 2022. The base houses Minuteman III intercontinental ballistic missiles. Interestingly, the purchase initially went unnoticed by CFIUS until MineOne submitted new documentation to expand its operations, including installing cryptocurrency mining equipment.

This new business activity raised alarms within CFIUS, leading to a deeper inquiry into the implications of MineOne's presence near critical military installations. The concern was primarily about the specialized mining equipment, which CFIUS feared could facilitate surveillance and espionage activities. As a result, the committee has now ruled that the company's actions represent a significant risk to U.S. national security.

Under the terms of the executive order, MineOne has 120 calendar days to divest the property and fully remove its mining apparatus. Failure to comply with these terms will result in punitive sanctions against the company. This case is not isolated; similar concerns have previously been raised regarding other Chinese-owned firms in the U.S., pointing to a pattern of scrutiny over foreign investments in sensitive sectors.

This order underscores the ongoing tensions between the U.S. and China regarding technology and security, reflecting broader concerns about the potential for foreign investments to compromise national security. The actions taken by President Biden and CFIUS serve as a reminder of the rigorous review process that foreign investments undergo, particularly when they are near vital national security assets.