Critical Minerals Security Act of 2024

Hozzl · 2024-12-16T20:36:55Z

Explore the details of House Bill 7662 Critical Minerals Security Act of 2024 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Energy. Stay informed on legislative developments.

12/16/2024, 8:36 PM

Summary of Bill HR 7662

The Critical Minerals Security Act of 2024, also known as Bill 118 hr 7662, is a piece of legislation introduced in the US Congress aimed at addressing the issue of securing critical minerals for national security and economic stability. The bill recognizes the importance of critical minerals in various industries, including defense, technology, and energy, and seeks to reduce the country's dependence on foreign sources for these minerals.

The bill outlines several key provisions, including the establishment of a Critical Minerals Security Council to coordinate efforts across government agencies and industry stakeholders. The council would be responsible for identifying critical minerals, assessing domestic resources, and developing strategies to ensure a stable supply chain.

Additionally, the bill calls for increased research and development funding for critical minerals extraction and processing technologies, as well as incentives for domestic production. It also includes measures to streamline permitting processes for mining projects and promote recycling and reuse of critical minerals. Overall, the Critical Minerals Security Act of 2024 aims to strengthen the United States' position in the global critical minerals market and reduce vulnerabilities to supply chain disruptions. The bill has garnered bipartisan support and is currently under review in Congress.

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Current Status of Bill HR 7662

Bill HR 7662 is currently in the status of Bill Introduced since March 13, 2024. Bill HR 7662 was introduced during Congress 118 and was introduced to the House on March 13, 2024. Bill HR 7662's most recent activity was Subcommittee Hearings Held as of November 19, 2024

Bipartisan Support of Bill HR 7662

Total Number of Sponsors

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Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 7662

Primary Policy Focus

Energy

Alternate Title(s) of Bill HR 7662

Critical Minerals Security Act of 2024Critical Minerals Security Act of 2024To require reports on critical mineral and rare earth element resources around the world and a strategy for the development of advanced mining, refining, separation, and processing technologies.

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