Austin News

U.S. Senators John Cornyn, Mark Warner, Todd Young, Angus King, James Lankford, and John Hickenlooper have introduced the Critical Minerals Security Act. The bill aims to secure U.S. access to critical mineral supply chains and counter Chinese industry dominance.

The legislation directs the U.S. Department of the Interior to evaluate the global supply and ownership of critical minerals. It also establishes a process to assist U.S. companies seeking to divest critical minerals operations in foreign countries. Additionally, the bill aims to develop a method for sharing intellectual property for clean mining and processing technologies with U.S. allies and partners.

Sen. Cornyn emphasizes the importance of securing a reliable, long-term supply of critical minerals. He states, "Despite the important role critical minerals play in everything from consumer electronics to military defense, we need more information to secure a reliable, long-term supply of these minerals."

Sen. Warner highlights the need to combat China's attempts to monopolize control of critical minerals. He states, "I am committed to ensuring the U.S. has a resilient supply chain for critical minerals that are essential components for technologies critical to our national security, to combat China's continued attempts to monopolize control of these minerals."

Sen. Young addresses the aggressive attempts by the Chinese Communist Party to monopolize critical mineral resources. He states, "Our legislation would respond to China's actions by better tracking global mineral reserves and devising a national strategy for advancing mining technologies and international cooperation."

Sen. King emphasizes the importance of securing U.S. access to critical minerals and countering Chinese dominance. He states, "The Critical Minerals Security Act would help us better understand these complex supply chains so we can secure United States' access to critical minerals and counter Chinese dominance."

Sen. Lankford emphasizes the need to secure the supply chain for critical minerals to strengthen American energy and national security. He states, "The United States shouldn't remain dependent on communist China or other adversaries for critical and rare earth minerals used by our defense, health care, aerospace, technology, and energy industries."

The Critical Minerals Security Act aims to address information gaps by directing the U.S. Secretary of the Interior to submit a report to Congress on critical mineral and rare earth element resources around the world. The report would include information on resource control, mining operations, operators, and beneficial owners of mines.

The legislation also establishes a process for U.S. entities seeking to divest stock in mining or mineral processing operations for critical minerals and rare earth elements in foreign countries. The Secretary of the Interior would provide assistance in finding another purchaser that is not under the control of a foreign entity of concern.

Furthermore, the bill requires the Secretary of the Interior to develop a strategy to collaborate with U.S. allies and partners in advancing clean mining, refining, separation, and processing technologies. The Secretary would also develop a method for sharing intellectual property resulting from the development of these technologies with allies and partners.

The Critical Minerals Security Act is an important step in securing U.S. access to critical mineral supply chains and countering Chinese dominance. It addresses the need for information on global mineral reserves, collaboration with other countries, and the development of clean mining technologies.

By diversifying supply chains and strengthening ties with allies, the U.S. aims to reduce its dependence on China and other adversarial nations for critical minerals. This legislation is crucial for the resilience of U.S. industries and national security.