H.R. 3617: Securing America’s Critical Minerals Supply Act

This bill is known as the Securing America’s Critical Minerals Supply Act. It amends the Department of Energy Organization Act and focuses on enhancing the supply chain of critical energy resources in the United States. Here are the key components of the bill:

Definition of Critical Energy Resources

The bill provides a definition for "critical energy resources." These are resources that:

• Are essential to the energy sector and energy systems of the United States.
• Have supply chains that are vulnerable to disruption.

Goals of the Bill

The main goal is to ensure a reliable and secure supply of critical energy resources essential for U.S. energy security. The bill aims to strengthen the understanding and management of various factors affecting these resources.

Responsibilities of the Secretary of Energy

The bill assigns specific responsibilities to the Secretary of Energy, including:

• Conducting ongoing assessments of critical energy resources, focusing on their significance to energy technology development and overall energy supply.
• Evaluating the vulnerability of the U.S. supply chain for these resources and its dependence on imports.
• Studying how adversarial nations might exploit these supply chains and the implications for U.S. investments.

Strategies for Strengthening Supply Chains

The Secretary of Energy is also tasked with developing strategies to bolster critical energy resource supply chains. This includes:

• Diversifying sources of critical energy resources.
• Increasing domestic production, processing, and separation of these resources.
• Researching and developing substitutes and alternatives.
• Improving recycling technologies for critical energy resources.

Consultation and Collaboration

To carry out these responsibilities, the Secretary of Energy must consult with various stakeholders, including:

• Federal agencies
• Representatives from the energy sector
• State governments
• Other relevant stakeholders

Broad Implications

The bill emphasizes the importance of securing the supply of critical energy resources to enhance the energy security of the United States. It aims to address vulnerabilities in the energy supply chain that could result from geopolitical or market factors.

Relevant Companies

• FCX (Freeport-McMoRan Inc.): This company is a major player in copper and gold mining, which are considered critical minerals. The bill may affect its operations and investments due to increased domestic production requirements.
• DRD (DRDGOLD Limited): Engaged in the mining and processing of gold, their activities could see implications due to the emphasis on securing critical resources.
• NEM (Newmont Corporation): As a leading gold mining company, Newmont's operations may be directly influenced by the bill's focus on domestic production of critical minerals.