Establishing US Critical Mineral Reserve to Secure Supply Chains and Reduce Foreign Reliance.
This Act establishes the Critical Mineral Reserve of the United States, aiming to secure the supply of essential resources (used in batteries, defense, and technology) and reduce reliance on foreign entities like China. The Reserve is funded with $2.5 billion initially to stabilize prices and support domestic and allied production through loans to private market makers. This measure seeks to enhance national security, protect US industries from market manipulation, and ensure the long-term availability of high-tech components for consumers.
Key points
A Critical Mineral Reserve is established with $2.5 billion in initial funding, set to operate for 10 years.
The primary goal is to secure the supply chain of critical minerals vital for defense, energy, and technology, aiming for at least 40% domestic/allied production.
The Reserve will provide loans to private companies (Authorized Market Makers) to guarantee purchase prices for domestic producers, shielding them from foreign price manipulation.
Status:
Expired
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