Bill 119 HR 755, also known as the Critical Minerals Policy Act of 2021, aims to amend the Energy Act of 2020 by expanding the definition of critical minerals to include critical materials. This bill is designed to address the growing importance of critical materials in various industries, including national security, technology, and clean energy.
The bill recognizes the significance of critical materials in maintaining the United States' competitiveness and security in the global market. By including critical materials in the definition of critical minerals, the legislation seeks to ensure that these essential resources are properly identified, assessed, and managed to meet the country's needs.
In addition to expanding the definition of critical minerals, the bill also aims to enhance coordination and collaboration among federal agencies, industry stakeholders, and other relevant parties in the critical materials supply chain. This includes promoting research and development, improving data collection and analysis, and streamlining permitting processes for critical materials projects.
Overall, Bill 119 HR 755 seeks to strengthen the United States' critical materials supply chain and reduce its dependence on foreign sources. By recognizing the importance of critical materials and implementing strategic policies to support their production and use, the legislation aims to enhance the country's economic competitiveness and national security in the long term.