S. 3708: Mineral Extraction for Renewable Industry and Critical Applications Act of 2026

This bill, known as the Mineral Extraction for Renewable Industry and Critical Applications Act of 2026, aims to amend existing laws regarding mineral leasing on lands acquired by the United States. Here are the main points of the bill:

1. Hardrock Minerals Definition

The bill introduces a definition for "hardrock minerals," which includes:

• Minerals found in sedimentary or other rocks
• Base metals
• Precious metals
• Industrial metals
• Precious and semi-precious gemstones

However, it explicitly excludes certain materials, such as:

• Coal
• Oil
• Oil shale
• Gas
• Sodium
• Potassium
• Sulfur
• Mineral materials subject to the Materials Act of 1947

2. Amendments to the Mineral Leasing Act

The bill updates the Mineral Leasing Act for Acquired Lands to apply to hardrock minerals. It modifies language and definitions within the Act concerning:

• The term "lease," clarifying what is included under leasing laws.
• The role of the "Secretary" within the context of mineral leasing.

3. Legislative Process

The bill was introduced in the U.S. Senate and referred to the Committee on Energy and Natural Resources for further discussions. Its intent is to facilitate the extraction of hardrock minerals, which may be essential for renewable energy technologies and other critical applications.

4. Implications

By expanding the scope of the Mineral Leasing Act to include hardrock minerals, this bill is designed to potentially increase mineral extraction activities on acquired lands, which may impact various sectors that depend on these minerals.

Relevant Companies

• FCX - Freeport-McMoRan Inc.: This company is heavily involved in mining copper and gold, both of which fall under the category of hardrock minerals.
• NEM - Newmont Corporation: As a leading gold mining company, Newmont could see increased operations related to gold extraction under the new definitions.
• VALE - Vale S.A.: This company is a major producer of nickel and copper, which could also be impacted positively by the expansion of mining on acquired lands.