Support for Seafloor Resource Collection and Domestic Processing Development
This act aims to reduce U.S. reliance on foreign suppliers of critical minerals, particularly from China, by supporting seafloor resource collection and developing domestic processing capabilities. Citizens may benefit from increased supply chain security, new job creation in the industry, and potentially more stable prices for products using these minerals, such as electric vehicles.
Key points
Enhancing national and economic security by diversifying sources of critical minerals essential for defense and clean energy technologies.
Supporting the development of seafloor mineral collection technologies and building processing infrastructure within the U.S., potentially creating new jobs.
Requiring reports on the economic, environmental, and social benefits of importing and processing seafloor minerals, including comparisons to land-based mining.
Status:
Expired
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