SECURE Minerals Act of 2026
- Bill Number
- S. 3659
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 2
- Policy Area
- Energy
- Status
- Introduced
- Latest Action
- 2026-01-15: Read twice and referred to the Committee on Energy and Natural Resources.
- Last Updated
- 2026-04-08T16:00:19Z
AI-Generated Summary
Summary of the SECURE Minerals Act of 2026 (S. 3659)
Purpose of the Legislation
The Act aims to establish the Strategic Resilience Reserve Corporation of the United States (the "Reserve") as a government entity to build a secure, diversified supply chain for critical minerals and materials. These are essential resources like rare earth elements used in manufacturing, defense, energy, technology, and other sectors. The legislation addresses U.S. vulnerabilities from over-reliance on imports, particularly from China, by promoting domestic and allied production, fair market competition, and responsible practices to enhance economic and national security.
Key Provisions
The Act creates a new framework for managing critical minerals and materials through the Reserve, with detailed structures for governance, operations, and oversight.
- Establishment and Governance (Title I):
- Forms the Reserve as a wholly owned government corporation, authorized $2.5 billion in funding.
- Establishes a 7-member Board of Governors, appointed by the President with Senate confirmation, including a Chairperson and Vice-Chairperson. Members serve staggered 14-year terms and must have expertise in commodities, finance, or related fields, with strict conflict-of-interest rules (e.g., no financial ties to affected industries for 2 years post-service).
- Board duties include approving bylaws, policies, budgets, and major transactions; meetings are mostly public, with exceptions for sensitive information.
- Duties and Authorities (Title II):
- Eligible Materials: The Reserve maintains an annual list of critical minerals and materials (e.g., those vital for defense or energy, excluding fuels like oil or common materials like sand), based on existing federal lists from the U.S. Geological Survey and Department of Energy.
- Data Collection: Creates a Division of Data Collection to gather global market data on supply, demand, prices, and recycling to inform decisions.
- Risk Assessments: Establishes a Division of Risk and Vulnerability Evaluation for biennial reports on market threats, supply disruptions, and economic impacts, including unclassified summaries.
- Production Standards: Sets up a Division of Production Standards to assess environmental, labor, and transparency risks in global production, publishing annual reports.
- Financing and Acquisitions: Authorizes tools like loans to private "authorized intermediaries" (independent entities with expertise, no foreign adversary ties), direct purchases, futures/options contracts, non-recourse lending (loans backed only by project output), and limited equity investments. Prioritizes U.S. and partner country projects, recycling, and high-dependence materials. Partner countries can co-invest at least $100 million (adjusted for inflation) via a separate advisory council.
- Sales: Allows sales of stored materials during shortages threatening security or prices, or for non-critical items no longer needed; prohibits sales to foreign adversaries (entities controlled by countries like China).
- Administrative Provisions (Title III):
- Grants the Reserve corporate powers, such as contracting, property management, and debt collection, similar to other government corporations.
- Oversight and Accountability (Title IV):
- Requires risk and audit committees for internal controls.
- Mandates annual independent audits and biennial reviews by the Comptroller General.
- Demands annual reports to Congress and the President on operations, plus a public database of transactions (with national security exemptions released after 3 years). The Chairperson must testify before key congressional committees.
Significant Changes to Existing Law
- Amends 31 U.S.C. § 9101 to classify the Reserve as a wholly owned government corporation, subjecting it to federal corporation laws but granting operational flexibility (e.g., bypassing some procurement rules).
- Introduces novel mechanisms like authorized intermediaries for loans and partner co-investments, not previously authorized for critical minerals.
- Exempts certain closed meetings and records from the Freedom of Information Act (FOIA) and Federal Advisory Committee Act (FACA) for security reasons, while mandating eventual public disclosure.
- Builds on existing laws like the Energy Act of 2020 (for critical mineral lists) and Defense Production Act but creates a dedicated entity with financing powers coordinated with agencies like the Export-Import Bank and Department of Energy loan programs.
Potential Impacts
- Government Agencies: Enhances coordination among agencies (e.g., Defense, Energy, State) for data sharing and risk assessments; adds administrative burden but leverages existing investments to avoid duplication. The Reserve could influence federal budgeting and policy on supply chains.
- Citizens: Improves supply security for everyday technologies (e.g., batteries, electronics), potentially stabilizing prices and creating jobs in mining, processing, and recycling. Promotes responsible practices to reduce environmental and labor risks in U.S. operations.
- International Relations: Strengthens alliances with "partner countries" (e.g., NATO members, major non-NATO allies like Australia) through co-investments and joint standards, countering China's market dominance. May strain relations with covered countries (e.g., China) by restricting their involvement and prioritizing alternatives, potentially leading to trade tensions or new agreements.
Main Stakeholders Affected
- U.S. Government: Federal agencies (e.g., Departments of Energy, Defense, Interior, State, Treasury) for consultations and data; Congress for oversight and appropriations.
- Private Sector: Domestic and partner country producers, processors, and recyclers benefiting from financing; authorized intermediaries (private firms handling trades/loans); industries reliant on minerals (e.g., tech, defense, renewable energy).
- Partner Countries and International Entities: NATO allies, major non-NATO partners (e.g., Japan, South Korea), and others with U.S. trade/defense agreements, gaining investment opportunities.
- Other Groups: Tribal nations, labor unions, environmental organizations (represented on the Board); consumers and taxpayers (via funded projects and potential economic stability).
Notable Legal, Constitutional, or Political Implications
- Legal: Robust conflict-of-interest provisions (e.g., penalties including removal and criminal referrals) ensure integrity but allow Board discretion in cures/extensions. The Reserve's powers (e.g., conservatorship over defaulting intermediaries, akin to banking regulators) expand federal intervention in private markets without direct ownership control. Exemptions from FOIA/FACA balance transparency with security but could limit public scrutiny.
- Constitutional: Aligns with Congress's commerce and defense powers by creating a corporation for national security, with checks like Senate confirmation, impeachment removal, and congressional reporting. No direct challenges noted, but broad financing authority might raise separation-of-powers questions if seen as executive overreach.
- Political: Bipartisan sponsorship (e.g., Sens. Shaheen, Young) signals cross-party support for supply chain resilience amid U.S.-China tensions. Could influence elections by addressing economic vulnerabilities, but implementation risks debates over funding, environmental standards, and foreign policy priorities.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (9)
Sen. Young, Todd [R-IN], Sen. Rounds, Mike [R-SD], Sen. Cortez Masto, Catherine [D-NV], Sen. King, Angus S., Jr. [I-ME], Sen. Sheehy, Tim [R-MT], Sen. Slotkin, Elissa [D-MI], Sen. Justice, James C. [R-WV], Sen. Kaine, Tim [D-VA], Sen. McCormick, David [R-PA]
Recent Actions
- 2026-01-15: Read twice and referred to the Committee on Energy and Natural Resources.
- 2026-01-15: Introduced in Senate
Bill Versions
- Securing Essential and Critical U.S. Resources and Elements Minerals Act of 2026 — issued 2026-01-15 — PDF (68 pages)