Minerals Bill introduced in House

Abstract

A bill that aims to strengthen a national minerals policy and to establish a three‐member White‐House‐level council to coordinate the development of this policy was introduced in the House of Representatives on April 30 by James D. Santini (D‐Nev.). Entitled the National Minerals Security Act (NMSA), the legislation, if passed, also would amend tax laws to assist the mining industry to make capital investments to locate and produce strategic minerals; it would provide the means for the Secretary of the Interior to make withdrawn public lands available for mineral development; and it would create a revolving fund for the sale and purchase of strategic minerals.Santini estimates that 4 billion tons of minerals are needed annually to sustain the nation's economy. Much of the minerals are supplied by other nations, however; Santini wants to see an end to the United States' dependence on foreign countries, especially those that seem relatively unstable politically. ‘The U.S. has placed its national security in the hands of a few foreign nations,’ Santini said in a recent press conference. ‘We are heavily dependent on the region of southern Africa for 76% of our cobalt, 93% of our platinum, 48% of our chromium, and a host of other strategic and critical minerals. Without these minerals, we cannot build jet aircraft, weapons, or other military hardware vitally important to our national security.’