Future Funding Opportunities for Critical Minerals Projects
Senators John Hickenlooper (D-CO) and Thom Tillis (R-SC) unveiled a bipartisan package to secure domestic leadership in critical minerals. The two pieces of legislation at the center of this effort, the National Critical Minerals Council Act and the Unearth Innovation Act, would enable agencies to establish a whole-of-government approach to deliver on a critical mineral national strategy.
The Unearth Innovation Act would create the Mining and Mineral Innovation Program within the Department of Energy (DOE). If passed, the initiative would support the research and development of technologies for identifying, mining, recycling, and processing rare earth minerals. In addition to R&D, the bill would promote activities to reclaim and reuse existing mines. Through community engagement, inter-agency research, and collaboration with academic partners and the mining industry, this legislation hopes to accelerate mining technology and workforce development.
Navigating the National Critical Minerals Council Act and Unearth Innovation Act
Recent investments spurred by the CHIPS and Science Act, Bipartisan Infrastructure Law, and Inflation Reduction Act are heavily reliant on critical minerals such as nickel, graphite, cobalt, and lithium – the bulk of which are produced in adversarial nations. The risks this reliance poses to the US supply chain were underscored when China restricted export of certain critical minerals, like battery-grade graphite. Legislation focused on strengthening domestic supply of critical minerals would complement current efforts like the Department of Energy’s Battery Materials Processing and Battery Manufacturing (DE-FOA-0003099) program. The Office of Manufacturing Energy and Supply Chains is expected to announce awards from its second round of funding any day now.
In the announcement made at the Colorado School of Mines, Senator Hickenlooper labeled the bills as the “Project Mercury for Critical Minerals”, referencing the over $2 billion undertaking to achieve human spaceflight in the 1950s and 60s. This reflects a growing consensus on Capitol Hill that expansive measures are needed to combat China’s domination of rare earth minerals that are key to national security and ensuring American success in the 21st-century economy. Members of the Select China Committee, Rep. Wittman and Rep. Castor introduced similar legislation that would establish a price floor that would subsidize mineral producers if market prices fell below a certain threshold.
Help Secure Federal Funding Opportunities for Your Company
As competition between the United States and China continues to escalate, Congress may be increasingly motivated pass legislation during the post-election lame duck session. McAllister & Quinn’s team of agency experts, Hill insiders, and proposal development professionals are ready to help your company engage in a multi-pronged approach to securing federal investments. Contact Us Below to schedule a free introductory consultation.