Bill 118 s 5451, also known as the "Critical Minerals and Rare Earth Elements Supply Chain Act of 2021," aims to strengthen the economic and national security of the United States by ensuring a steady and secure supply of critical minerals and rare earth elements. These minerals and elements are essential for a wide range of industries, including defense, technology, and renewable energy.
The bill proposes to achieve this goal through the negotiation of trade agreements and strategic partnerships with other countries that are rich in these resources. By diversifying and expanding the sources of critical minerals and rare earth elements, the United States can reduce its dependence on a few key suppliers and mitigate the risks of supply chain disruptions.
In addition, the bill calls for the development of a comprehensive strategy to promote domestic production of critical minerals and rare earth elements. This includes streamlining the permitting process for mining projects, investing in research and development, and supporting workforce training programs in the mining and processing industries.
Overall, Bill 118 s 5451 seeks to bolster the United States' resilience and competitiveness in the global market by ensuring a stable and secure supply of critical minerals and rare earth elements. By fostering international cooperation and domestic production, the bill aims to strengthen the country's economic and national security in the face of increasing global competition and geopolitical challenges.