Critical Minerals Security Act of 2024

The Critical Minerals Security Act of 2024 requires the U.S. Secretary of the Interior to submit regular reports to Congress assessing global critical mineral and rare earth element resources. These reports must detail which resources are controlled by foreign entities of concern (like adversarial nations), owned by U.S. allies, or underutilized, including mine output, ownership structures, and reasons for lack of commercial mining. The bill also establishes a process for U.S. persons to notify the government of planned divestments in foreign mining operations and seek non-adversarial buyers, while mandating a strategy to collaborate with allied nations on advanced mining and processing technologies. It directly affects federal agencies, U.S. entities operating in foreign mineral sectors, and U.S. government oversight of critical supply chains.