S. 3659: Securing Essential and Critical U.S. Resources and Elements Minerals Act of 2026

The "Securing Essential and Critical U.S. Resources and Elements Minerals Act of 2026" is legislation designed to enhance national security by establishing a Strategic Resilience Reserve focused on critical minerals essential for various industries. The key objectives of the bill include:

Strategic Resilience Reserve

The bill proposes the creation of a Strategic Resilience Reserve to minimize the United States' dependency on foreign sources, particularly those dominated by China, for critical minerals. This initiative aims to boost domestic production, improve recycling of materials, and promote responsible market practices.

Authority and Functions

The Reserve will have several authorities and responsibilities, including:

• Managing personnel compensation related to its operations.
• Overseeing contracts and real property transactions.
• Establishing committees to support its functions.
• Issuing rules to govern its activities.
• Acquiring critical minerals necessary for national interests.
• Collaborating with partners to conduct risk assessments and provide financing.
• Making strategic investments in critical materials to bolster national security.

Sales and Transactions

The bill outlines the methods by which the Reserve can conduct sales of critical minerals. Some specifics include:

• Permitted methods of sales include direct contracts and auctions.
• Transactions with foreign entities deemed a concern are prohibited.
• The Reserve will have administrative powers to enforce rules and maintain records as required.

Transparency and Accountability

To ensure transparency and accountability, the bill mandates:

• Annual audits of the Reserve's activities.
• Public reporting of transactions to enhance public knowledge and oversight.
• Maintenance of a database for all transactions conducted by the Reserve.

Purpose and Impact

The overarching goal of the bill is to secure a stable supply of critical minerals that are vital for economic and national security, thereby reducing reliance on foreign imports and supporting the domestic mineral industry.

Relevant Companies

• FCX: Freeport-McMoRan, a leading mining company involved in extracting copper and other minerals, may benefit from increased domestic demand for critical minerals.
• NEM: Newmont Corporation, a prominent gold mining company, holds interests in various critical minerals that could see increased demand or regulation under this bill.
• LTHM: Livent Corporation focuses on lithium production, a critical mineral essential for batteries, which could be favored by this legislation aimed at securing domestic supplies.