Hickenlooper, Colleagues Introduce Bipartisan Bill to Ensure Supply of Critical Minerals

Legislation will help the U.S. obtain the critical minerals necessary for our clean energy future

WASHINGTON - U.S. Senator John Hickenlooper joined seven of his colleagues to introduce the bipartisan Global Strategy for Securing Critical Minerals Act, which works to ensure that the U.S., its allies, and global partners can count on a diverse and secure end-to-end supply of critical minerals.

"Our clean energy future hinges on America taking the reins on critical minerals," said Hickenlooper. "Bipartisan action on critical minerals will shore up our supply chains and expand our energy workforce, all while putting a stop to the foreign chokehold on our economic well-being."

The U.S. critical minerals list contains 50 minerals - including lithium, titanium, and cobalt - that are essential to our economy, infrastructure, and military capability. Critical minerals are used in smartphones, electric vehicle batteries, solar panels, and wind turbines. Global demand for critical minerals is on the rise as industrialized economies transition to clean energy. China is currently the largest source of U.S. imports for 26 of the 50 critical minerals and has significant control over processing for several critical minerals, including rare earth elements, graphite, and gallium. Experts have become increasingly concerned with U.S. dependence on China for critical minerals, arguing it poses a significant risk to national security.

Specifically, the legislation would enhance diplomatic and financing tools to secure these minerals by:

● Streamlining diplomatic efforts for securing critical minerals;

● Establishing diplomatic support for private sector mining and processing investments abroad;

● Enhancing related financing tools of the U.S. International Development Finance Corporation (DFC) and the Export-Import Bank of the United States (EXIM);

● Creating a fund to assist investments in critical minerals;

● Enhancing public-private information sharing on manipulative adversary practices;

● Creating a public website to assist private sector companies in navigating government resources and financial support; and

● Expanding allied partnerships to secure critical minerals.

The legislation would also work to increase U.S. procurement of critical minerals in order to offset China's ability to manipulate and monopolize the market, including by:

● Requiring a report on the use of and need for new or expanded authorities to increase domestic production and procurement;

● Requiring an assessment on imposing duties on imported minerals, in particular from China; and

● Requiring a whole-of-government effort to develop workforce training programs to advance end-to-end critical mineral capabilities.

Hickenlooper recently chaired a Senate hearing to explore strategies to urgently expand a diverse critical minerals workforce as the U.S. builds toward energy independence. Hickenlooper also joined a group of his Senate colleagues earlier this year to introduce the bipartisan Enhancing Public-Private Sharing on Manipulate Adversary Practices in Critical Minerals Projects Act to protect American critical mineral projects abroad - the text of which is included in this legislation. Hickenlooper also introduced the bipartisan Critical Minerals Security Act to evaluate the global supply and ownership of critical minerals, and make it easier for the U.S. to establish stable supply chains with our allies and partners.

Full text of the bill is available HERE.

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