Critical Minerals Security: Reports and Strategies for the USA
This act aims to enhance the security of critical raw material supplies, such as critical minerals and rare earth elements, for the United States. It mandates regular reporting on global resources of these materials and the development of a strategy for advanced mining and processing technologies. This is intended to reduce reliance on foreign suppliers and strengthen the US position in the global supply chain, potentially impacting the price stability of products containing these materials.
Key points
The US government will regularly monitor global critical mineral and rare earth element resources, including those controlled by foreign entities.
A strategy will be developed for new mining and processing technologies for these resources, in cooperation with US allies.
A process will be established to assist US companies if they need to divest from foreign mining operations, to prevent their acquisition by undesirable entities.
Status:
Introduced
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