US EditionLawmakers propose $2.5B agency to boost production of rare earths and other critical minerals
The $2.5 billion Strategic Resilience Reserve aims to stabilize prices and boost domestic and allied production to reduce U.S. reliance on China’s critical minerals supply.
- On Thursday, a bipartisan group proposed creating a new independent federal agency backed by $2.5 billion to spur rare earths and other critical minerals production, introduced by Sen. Jeanne Shaheen, D-N.H., and Sen. Todd Young, R-Ind.
- Amid trade-war pressure, Beijing's export restrictions forced Washington to act, and the Pentagon deployed over $4.5 billion in the past five months to close six critical-minerals deals.
- The government has been taking equity stakes and guarantees, including a $8500 million preferred stock in MP Materials, a $1.4-billion partnership with Re-Element Technologies, and a $150 million preferred-equity investment in Atlantic Alumina Co.
- The bill would charge the independent body with building stockpiles, stabilizing prices and incentivizing domestic and allied production to secure military and broader economy supply chains, while on Monday, G7 finance ministers met and U.S. Treasury Secretary Scott Bessent urged greater resiliency and cooperation.
- It remains unclear how the proposed bill would align with the administration's $8.5 billion agreement with Australia and efforts involving Greenland amid ongoing dependence on China.
48 Articles
48 Articles
Bipartisan group tries to create strategic mineral reserve to fight back China
A bipartisan group of lawmakers is set to introduce a bill to create a $2.5 billion reserve of critical minerals to counter China‘s grip on global supply. Sens. Jeanne Shaheen (D-NH) and Todd Young (R-IN), along with Reps. John Moolenaar (R-MI) and Rob Wittman (R-VA) announced the Securing Essential and Critical U.S. Resources and Elements or SECURE Minerals Act on Thursday. This is Congress’s latest effort to boost the supply of minerals to re…
Associated Press News
Lawmakers propose $2.5B agency to boost production of rare earths and other critical minerals
A bipartisan group of lawmakers has proposed creating a new agency with $2.5 billion to boost production of rare earths and the other critical minerals.
Shaheen presents bipartisan bill to boost critical minerals
The creation of a strategic resilience reserve with $2.5 billion in federal spending would better position the U.S. to compete with China in the critical minerals industry, U.S. Sen. Jeanne Shaheen, D-N.H., said Thursday.
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