S. 598: Unearth Innovation Act

This bill, known as the Unearth Innovation Act, aims to establish a new program within the Department of Energy focused on mineral and mining innovation to strengthen domestic mineral resources, promote economic growth, and enhance national security. The key features of this initiative are outlined as follows:

Establishment of the Initiative

The Secretary of Energy is required to establish a mineral and mining innovation initiative within 180 days of the bill's enactment. The initiative will focus on:

• Supporting research, development, deployment, and commercialization of technologies and practices for responsibly handling minerals.
• Accelerating integration of advanced technologies and data analytics to improve mining practices and minimize environmental impacts.
• Coordinating with various government agencies on mining safety and innovation.

Duties of the Secretary of Energy

The Secretary will carry out several duties, including:

• Identifying and studying mineral resources and improving mining technologies.
• Enhancing environmental performance of mining operations.
• Improving mining productivity and safety.
• Fostering community engagement and collaboration with Indian Tribes in resource management efforts.

Research and Development Focus

The initiative will concentrate research efforts on several areas, including:

• Mineral exploration and characterization technologies.
• Advanced mining techniques and mine remediation strategies.
• Recycling technologies, particularly for critical minerals.
• Social acceptance of mining practices and community engagement strategies.

Coordination and Collaboration

The Secretary will work collaboratively with the Secretary of the Interior and engage with various stakeholders to:

• Identify research and innovation opportunities in mineral recovery.
• Align mining research with national security and economic needs.
• Certify emerging technologies that provide environmental and economic benefits.

Funding and Reporting

The bill authorizes $100 million annually from fiscal years 2026 through 2035 to fund the initiative's activities, ensuring that the funds remain available until spent. A report on the initiative's progress will be submitted to Congress within three years post-enactment.

Relevant Companies

• NEM (Newmont Corporation) - A major mining company that might benefit from advancements in mining technologies and increased domestic mineral production.
• FCX (Freeport-McMoRan Inc.) - This company could see impacts from improved mining practices and resource recovery technologies.
• AEM (Agnico Eagle Mines Limited) - As a mining company, it may relate to new regulations and initiatives under this bill aimed at responsible mining operations.