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119-s-2839119th CongressWALLET

Restoring American Mineral Security Act of 2025

Sponsored By: Senator Cortez Masto, Catherine [D-NV]

Introduced

Summary

Secures U.S. access to critical minerals by creating a U.S.-led Critical Minerals Security Alliance and a Trust Fund to finance domestic and allied mining, processing, and derivative-product capacity.

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  • U.S. miners and manufacturers: Would gain federal financing through a new Trust Fund to expand mining, processing, and manufacturing of derivative products. Sixty percent of the fund would be allocated to the Department of Energy’s Loan Programs Office.
  • Defense and national security: The Department of Defense would receive 20 percent of the Trust Fund to support mining, processing, and strategic manufacturing tied to defense needs.
  • Allied partners: The United States Trade Representative would negotiate an Alliance that can deliver duty-free treatment for eligible members. The Alliance aims to cover at least 90 percent of critical minerals listed in the Energy Act of 2020 and 100 percent of select derivative products.
  • Imports and countries of concern: The bill would phase in higher duties or equivalent trade remedies on mined and processed minerals from foreign countries or entities of concern, aligned with the China section 301 rate as of January 1, 2026.
  • International finance and conditions: Twenty percent of the Trust Fund would go to the U.S. International Development Finance Corporation with exceptions to support some upper-middle and high-income partner countries if specific U.S. participation and sale conditions (not less than 50 percent sales to U.S. government or U.S. entities) are met.
  • Oversight and reviews: The United States Trade Representative would conduct five-year and ongoing capacity reviews, require annual reports to Congress on partner engagement and capacity gaps, and the bill specifically lists Venezuela as a country of concern.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 1 benefits, 0 costs, 3 mixed.

Trust Fund to Finance Projects

If enacted, the bill would create a Critical Minerals Trust Fund in the Treasury. The Fund would get transfers equal to duties collected on imported mined and processed critical minerals, with transfers at least quarterly. Money in the Fund would be invested and available without further appropriation. Each year the Fund would allocate 60% to the Department of Energy loan office, 20% to the Department of Defense, and 20% to the U.S. International Development Finance Corporation for eligible projects.

DFC Financing in Wealthier Countries

The bill would let the U.S. International Development Finance Corporation finance critical‑mineral projects in upper‑middle and high‑income countries, waiving a current BUILD Act restriction. The President must certify that each project furthers U.S. national interests and yields development or counters strategic competitors. Projects must include U.S. participation or offer at least 50% of produced critical minerals first to the U.S. government and U.S. entities.

New Critical Minerals Alliance

This bill would let the U.S. Trade Representative negotiate a "Critical Minerals Security Alliance." The Alliance must cover at least 90% of listed critical minerals and 100% of select derivative products. Countries seeking admission must meet duty, meeting, data‑sharing, and trade‑remedy rules. The Trade Representative must certify eligible countries and notify Congress, and admittance takes effect after a joint resolution of approval or 90 days without disapproval. The bill would also define key terms, list covered products (for example, batteries, magnets, motors, and semiconductors), and name Venezuela as a country of concern.

Tariff Rules for Members and Rivals

If the first Alliance admittance agreement takes effect, the bill would make covered imports from admitted members duty‑free (except antidumping or countervailing duties). At the same time, mined and processed critical minerals and certain derivative products from countries or entities of concern would face elevated duties aligned to the U.S. section 301 rate for China in effect on January 1, 2026. Duties collected on covered minerals would help fund the Trust Fund.

Sponsors & CoSponsors

Sponsor

Cortez Masto, Catherine [D-NV]

NV • D

Cosponsors

  • Sen. Hagerty, Bill [R-TN]

    TN • R

    Sponsored 9/17/2025

Roll Call Votes

No roll call votes available for this bill.

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