Bipartisan lawmakers propose $2.5B agency to boost critical minerals
AP News • • world
Key Points:
- A bipartisan group of U.S. lawmakers proposed a new agency with $2.5 billion funding to boost production of rare earths and critical minerals, aiming to reduce reliance on China and stabilize supply for both military and civilian use.
- The Trump administration has already invested nearly $5 billion through the Pentagon in critical mineral companies and deals to break China’s dominance, including equity stakes and price guarantees.
- The legislation introduced by Senators Jeanne Shaheen and Todd Young promotes a market-based approach to build a stockpile, stabilize prices, and encourage domestic and allied production, with a corresponding House bill introduced by Rep. Rob Wittman.
- The U.S. is also seeking to strengthen alliances for critical mineral supply, exemplified by an $
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