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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.
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Additional Information
Print number: 118_HR_10378
Sponsor: Rep. Wittman, Robert J. [R-VA-1]
Process start date: 2024-12-11
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OFFICIAL LEGAL TITLE

SECURE Minerals Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10378.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-12-11.

What are the main provisions?

Key points include:

  • 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.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Wittman, Robert J. [R-VA-1].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy Security Public Investments