Developing Overseas Mineral Investments and New Allied Networks for Critical Energies Act
AN ACT
To promote United States and allied energy and mineral security, and for other purposes.
Sec. 2 Findings and purpose
Findings— It is the sense of Congress that—
the United States is heavily dependent on the People’s Republic of China for the production, processing, and refinement of many key critical minerals and materials;
the Government of the People’s Republic of China has weaponized its dominance of critical mineral production and has intentionally created overcapacity and sold products at below-market rates in order to gain market share and move up the value chain;
it is in the economic and national security interests of the United States to prevent further inroads by strategic competitors into key sectors such as energy infrastructure, critical and rare earth minerals, and other supply chains essential to United States industrial capacity and strategic security;
a reliable, resilient, and diversified supply chain for energy and critical minerals is essential to meet the defense, manufacturing, technological, and energy needs of the United States;
energy security is a fundamental component of United States national security, economic stability, and foreign policy strategy;
the United States must utilize available trade enforcement mechanisms, as well as other appropriate policy tools, to counter coercive economic practices by strategic competitors and complement the growth of a robust domestic critical minerals industry;
United States strategic interests are best served by reducing reliance on adversarial nations for energy and critical minerals, ensuring reliable and affordable electricity for industrial and strategic supply chains, expanding commercial opportunities for United States energy technologies, and securing diversified and reliable access to critical minerals for the United States and allied economies; and
Government financing, development, and diplomatic tools should all be deployed in a manner that maximizes the mobilization of private capital, strengthens cooperation with allies and partners, and advances the statutory objectives of United States foreign policy, economic development, and national security—thereby making the United States safer, stronger, and more prosperous.
Purpose— The purpose of this Act is to—
reduce the dependence of the United States and partner countries on strategic competitors for energy, critical minerals, and related technologies;
support economic growth and energy-sector modernization in partner countries through responsible and transparent development of domestic energy and mineral resources;
advance United States national security and foreign policy objectives through strategic investments, policy coordination, and expanded cooperation with allies and partners;
establish a coordinated interagency mechanism to align United States diplomatic, development, trade, and financing tools;
strengthen the commercial competitiveness of United States energy and critical mineral companies in global markets; and
secure a diversified and resilient supply and processing capacity for critical minerals necessary for United States industry, energy systems, and defense requirements, as well as those of allied and partner countries.
Sec. 3 Definitions
In this Act:
Ally; allied country— The term ally or allied country means—
any country described in section 2350a(a)(2) of title 10, United States Code; and
any member country of an organization listed in such section.
Appropriate congressional committees— The term appropriate congressional committees means—
the Committee on Foreign Affairs, the Committee on Ways and Means, and the Committee on Appropriations of the House of Representatives; and
the Committee on Foreign Relations, the Committee on Finance, and the Committee on Appropriations of the Senate.
Assistant Secretary— The term Assistant Secretary means the Assistant Secretary for Energy Security and Diplomacy, as established in section 301.
Country Compact Team— The term Country Compact Team means a dedicated team formed by the Director for Energy Security Compacts to manage the day-to-day activities related to the development, negotiation, implementation, and monitoring of the Energy Security Compacts.
Critical mineral— The term critical mineral means any mineral on the list of critical minerals required by section 7002(c)(3) of the Energy Act of 2020 (30 U.S.C. 1606(c)(3)) on or after January 1, 2026.
Department— The term Department means the Department of State.
Partner country— The term partner country means any country eligible for an Energy Security Compact under title II.
Processed— The term processed, with respect to a critical mineral, means the mineral has undergone the activities that occur after critical mineral ore is extracted from a mine up through its conversion into a metal, metal powder, or a master alloy.
Secretary— The term Secretary means the Secretary of State.
Under Secretary— The term Under Secretary means the Under Secretary for Economic Affairs.