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Critical minerals are crucial for our national security as they play vital roles in military equipment, defense systems, and emerging technologies. However, Communist China currently dominates the mining, processing, and manufacturing of the majority of these minerals. 

U.S. Senate Select Committee on Intelligence Vice Chairman Marco Rubio (R-FL), Chairman Mark Warner (D-VA), and colleagues introduced the Global Strategy for Securing Critical Minerals Act of 2024 to combat China’s dominance in the field as well as ensure U.S. and global partners can count on a secure end-to-end supply of critical minerals. 

• “Our national security interests are heavily dependent on critical minerals, which are vital for modern technology and national defense. The U.S. must have a comprehensive response to China’s dominion over the global critical mineral industry. With our consensus package, Senator Warner and I hope to free our nation’s supply chains from China’s industrial monopoly.” – Senator Rubio

• “The global demand for critical minerals continues to grow at exponential rates, and it is crucial that the U.S. identify secure sources of these minerals so that we can count on them for national security and critical infrastructure applications. Currently, China dominates the critical mineral industry and is actively working to ensure that the U.S. does not catch up. The U.S. must, alongside allies, take meaningful steps to protect and expand our production and procurement of these critical minerals. This legislation will serve as a roadmap for the U.S. to counter China’s dominance in this sector.” – Senator Warner

Senators Angus King (I-ME), Chris Coons (D-DE), Bill Cassidy (R-LA), John Hickenlooper (D-CO), Thom Tillis (R-NC), and Mark Kelly (D-AZ) are all original cosponsors.

Specifically, the legislation would enhance diplomatic and financial tools to support public and private sectors in securing and processing these minerals by:

• Streamlining diplomatic efforts for securing minerals;
• Establishing diplomatic support for private sector investments abroad;
• Enhancing financial tools of the U.S. International Development Finance Corporation (DFC) the Export-Import Bank of the United States (EXIM);
• Creating a fund to assist investments in critical minerals metallurgical facilities;
• 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 to offset China’s ability to manipulate and monopolize the market.

Flashback … Rubio and Warner have also led efforts to secure supply chains and reduce U.S. reliance on China for critical minerals through increased government support to U.S. private sector companies that are investing and operating in critical mineral projects.

Want more information?

• June 2024: Rubio Introduces Bill to Destroy China Monopoly on Critical Minerals
• March 2024: Rubio, Warner, Colleagues  Introduce Legislation to Improve Information Sharing Between Intelligence Community and U.S. Companies
• March 2024: Rubio Introduces Bills to Prevent China From Flooding U.S. Auto Markets
• Nov 2023: Rubio, Warner Lead Push to Support Critical Mineral Projects