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Friday, September 20, 2024

Senate passes bill targeting reduction in reliance on Chinese critical minerals

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Sen. Mitt Romney, U.S. Senator for Utah | Official U.S. Senate headshot

Sen. Mitt Romney, U.S. Senator for Utah | Official U.S. Senate headshot

The Senate has unanimously passed the Intergovernmental Critical Minerals Task Force Act, a bipartisan piece of legislation authored by U.S. Senators Mitt Romney (R-UT), Gary Peters (D-MI), and James Lankford (R-OK). The bill aims to reduce the United States' dependence on China and other adversarial nations for critical minerals. Introduced in June 2023, it successfully passed out of the Homeland Security and Governmental Affairs Committee (HSGAC) later that month and now proceeds to the House for consideration.

Critical minerals and rare earth metals are essential for manufacturing military equipment, electric vehicle batteries, and other technology crucial to American economic competitiveness and national security. China currently supplies more than half of the critical minerals listed in the U.S. Geological Survey’s 2022 report, including lithium and cobalt. The senators’ bill seeks to mitigate this threat by establishing an intergovernmental task force to identify opportunities for increasing domestic production and recycling of these minerals.

“By relying on China for critical minerals, we continue to put our economic and national security at risk,” Senator Romney stated. “Today’s passage of our legislation is a strong step in the right direction to shore up our supply chains and bolster production of critical minerals here in the United States. I hope to see it passed by the House and signed into law by the President soon.”

Senator Peters added, “America must reduce its reliance on China and other adversaries for critical minerals and rare earth metals in order to stay competitive on the global economic stage. Our nation’s dependence on foreign sources for these materials creates a serious threat to our national and economic security. My bipartisan legislation will mitigate this growing threat by strengthening our domestic supply chain and creating more good paying jobs here at home.”

“The United States should not depend on communist China to keep our critical mineral supply chain running. Relying on China for critical minerals means relying on our adversary for batteries, medical supplies, and military equipment,” said Senator Lankford. “We need to prioritize American-produced and made energy solutions and give US suppliers a seat at the table.”

The Intergovernmental Critical Minerals Task Force Act mandates that the Office of Management and Budget (OMB) Director establish a task force comprising representatives from federal agencies who will consult with state, local, territorial, and Tribal governments. This task force will address national security risks related to America's critical mineral supply chains while identifying new domestic opportunities for mining, processing, refinement, reuse, and recycling of these minerals. Additionally, it requires publishing a report to Congress with findings, guidelines, and recommendations aimed at reducing reliance on China and other foreign nations.

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