Strategic Critical Minerals Reserve: Securing Supply Chains and Market Stability.
This act establishes a government corporation, the Strategic Resilience Reserve, authorized with $2.5 billion, aimed at securing the supply of critical minerals vital for defense, energy, and technology sectors. The goal is to reduce US reliance on foreign entities of concern (specifically China) and protect the economy from price manipulation and supply chain disruptions. This effort is intended to ensure the long-term availability and stability of prices for essential products like batteries, solar panels, and high-tech components.
Key points
Public Investment: Establishes the Strategic Reserve with $2.5 billion authorized funding for financing and acquiring critical minerals.
Supply Security Goals: Aims to increase domestic and partner country production to at least 25% of US consumption, while reducing dependence on entities deemed threats to national security.
Industry Support: The Reserve will provide loans and financial support to US and partner country companies involved in mining, processing, recycling, and repurposing critical minerals.
Market Protection: The Reserve can sell stored minerals during shortages to stabilize prices and protect national and economic security.
Status:
Introduced
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