Measure would allow raw mineral cooperatives

Sens. Roy Blunt (R-Mo.) and Joe Manchin (D-W.Va.) recently introduced bipartisan legislation that would encourage domestic production and refinement of raw minerals to reduce America’s dependence on Chinese imports, create jobs and protect the military’s technological edge.

The National Rare Earth Cooperative Act would grant suppliers and end-users an opportunity to establish rare earth refining cooperatives in America.

“By encouraging the domestic production and refinement of rare earth minerals, we can reduce our dependency on other countries, encourage job creation and economic development here in the U.S., and strengthen our nation’s military capabilities,” Blunt said. “I’m pleased to partner with Senator Manchin on this bipartisan legislation as we work to bring back the rare earth industry to the U.S.”

Rare earth minerals are used to produce high-tech products for the energy and defense industries. China, however, diverted advanced rare earth technology and gained greater control over the global rare earth mineral industry by manipulating prices and supply.

“China’s near-monopoly over the global rare earth market is bad for our economy and bad for national security,” Manchin said. “This bipartisan legislation will help to end the imbalance – encouraging domestic production of our rare earth minerals which are used for everyday items like televisions and mobile phones and are essential in strategic weapons systems we need for the national defense…”

Blunt also cosponsored the Critical Minerals Policy Act, which would take steps to prevent supply shocks of critical minerals for the defense, energy, electronics and medical industries.