SAFE Urges Continued Integration of Domestic and International Mineral Priorities and Codified Support of Mineral Security Partnership
Washington, D.C.—In response to the introduction of the Global Strategy for Securing Critical Minerals Act of 2024, Abigail Hunter, Executive Director of SAFE’s Center for Critical Mineral Strategy, released the following statement:
“Mineral security is national security. We applaud the bipartisan cosponsors for introducing a bill that will meaningfully address gaps in existing policy to help diversify and secure our supply chains—retooling our commercial diplomacy and empowering existing agencies to bridge project financing gaps.
This legislation helps address three policy needs: Expanding the spotlight away from just battery supplies to include other critical technologies, bolstering multilateral mineral security programs, and enhancing our ability to meaningfully contribute to an allied supply chain.
As this bill is evaluated and advanced, we urge codification of the Mineral Security Partnership (MSP) as the project counterpart to the PGI’s infrastructure work. We also urge congressional leaders to continue connecting the dots between our international efforts and domestic funding policies.”
Important provisions of the bill to help address policy gaps include:
- A $2.1 billion fund to support metallurgy and recycling facilities to create finished critical material projects, including magnets.
- Enhancing U.S. diplomatic support of critical materials projects, codifying the Partnership for Global Infrastructure and Investment (PGI), and asking the State Department to establish a mechanism or process to support U.S. private sector critical material projects abroad.
- Increasing financial tools for onshoring of critical materials—most importantly, aiming to expand the scope of projects EXIM Bank can support to include those with a U.S. offtake. This helps put the “import” back in Export-Import Bank to meet domestic mineral needs.
- Strengthening public-private collaboration on critical materials, and specifically mentioning the SAFE-State Department partnership, MINVEST, as essential to support private sector investment in mineral development projects, and asking State, DFC, EXIM and DOE to engage specifically in this project.
- Addressing Chinese manipulation of critical material markets by requiring the President to create a plan of action to enhance or establish domestic production and procurement capabilities, and requiring the Department of the Treasury to create a report on imposing duties on electromagnets, battery cells, electric storage batteries, and solar PV cells from certain countries, while prohibiting funding authorized under this act from going to foreign entities of concern.
Experts from SAFE’s Minerals Center are available for interviews and additional comment on this legislation. Reach out for details.
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SAFE’s Center for Critical Minerals Strategy (Minerals Center) aims to secure all aspects of the critical minerals supply chain to help ensure the national and economic security of the United States and our allies as we transition to a minerals-based economy. CCMS is the sole NGO partner for private sector engagement to the U.S. State Department’s Mineral Security Partnership. The Center is also home to the Sub-Committee on Opportunities and Risks in the Critical Mineral Sector (SCOR) project with five leading mining investment firms.
SAFE is an action-oriented, nonpartisan organization committed to transportation, energy, and supply chain policies that advance the economic and national security of the United States, its partners, and allies. Since 2004, SAFE has worked with its Energy Security Leadership Council—a peerless coalition of current and former Fortune 500 CEOs and retired 4-star admirals and generals—to support secure, resilient, and sustainable energy solutions. Learn more at secureenergy.org.
