Bill 118 hr 3885, also known as the Critical Minerals Amendment Act, aims to amend the Energy Act of 2020 to designate copper as a critical mineral. This designation is important because critical minerals are essential for various industries, including technology, defense, and infrastructure. By including copper as a critical mineral, the bill seeks to prioritize its production and ensure a stable supply for domestic use.
The bill also addresses other purposes related to critical minerals, such as streamlining permitting processes for mining projects and promoting research and development in the critical minerals sector. Additionally, it aims to enhance coordination between federal agencies and stakeholders to improve the United States' competitiveness in the global critical minerals market.
Overall, the Critical Minerals Amendment Act is intended to strengthen the United States' critical minerals supply chain and reduce its dependence on foreign sources. By recognizing the importance of copper as a critical mineral and implementing measures to support its production and use, the bill seeks to bolster national security, economic growth, and technological innovation.