U.S. lawmakers introduce a bill to create a $2.5 billion stockpile of critical minerals, aiming to stabilize market prices and boost domestic mining and refining. This move is a response to perceived Chinese price manipulation of lithium, nickel, rare earths, and other minerals vital for electric vehicles and high-tech weaponry. The bill proposes a Strategic Resilience Reserve, governed by a seven-person board, to purchase and store minerals across the U.S. It prioritizes recycled materials but also includes minerals from mines. The reserve's board has the flexibility to buy minerals at prices that support U.S. mines, potentially creating a Western price structure for certain critical minerals. This bill is seen as a way to 'insulate the U.S. from foreign threats' and boost the economy, with potential support from allies contributing at least $100 million. The measure must pass through the House of Representatives and the Senate and be signed by President Donald Trump to become law.
