Young, Shaheen Statement on Trump Administration’s Critical Minerals Stockpile Announcement

WASHINGTON –U.S. Senators Todd Young (R-Ind.) and Jeanne Shaheen (D-N.H.),lead sponsors of theSECURE Minerals Actto create a new Strategic Resilience Reserve that ensures a domestic supply of critical minerals, released the following statement on theannouncementthat the Trump Administration is launching a $12 billion stockpile of critical and rare earth minerals:
“We are pleased to see the Administration take steps to stockpile critical minerals for economic purposes. It’s a clear sign that there is bipartisan support for securing a robust domestic supply of critical minerals that both reduces our reliance on China and stabilizes the market.
“Beyond this effort, we should ensure a reliable, long-term supply and provide the durability needed to grow and maintain a domestic critical minerals industry in order to stabilize prices and diversify our most important supply chains away from China. Our bipartisan, bicameral SECURE Minerals Act will give American companies and consumers the certainty we need to fend off supply chain disruptions, volatile prices and economic coercion from our most important economic adversary.
“With this announcement in mind, we look forward to working with our colleagues to earn more support and pass our bill through Congress to advance long-term American leadership to secure the materials and good jobs that strengthen our national security and grow our economy.”
Young and Shaheen recently introduced theSECURE Minerals Actto establish a Strategic Resilience Reserve in an independent government corporation to boost U.S. critical minerals supply and support the critical mineral market.
Additionally, Young haslaid out a critical minerals strategy for Congressto implement that prioritizes securing supply chains, identifying vulnerabilities, and rapidly diversifying our partnerships. The strategy includes theFinding ORE Act, theCritical Minerals Security Act, and theSTRATEGIC Minerals Act.