S.1463 - Finding Opportunities for Resource Exploration Act; Finding ORE Act (119th Congress)
Summary
S.1463, the Finding Opportunities for Resource Exploration Act (Finding ORE Act), aims to enhance the security and resilience of international supply chains for critical minerals and rare earth elements. It allows the Secretary of the Interior to enter into memoranda of understanding (MOUs) with partner foreign countries for scientific and technical cooperation in mapping these resources. The bill emphasizes collaboration with the Secretary of State and consultation with the private sector to prioritize partner countries and facilitate private sector investment.
The Act outlines specific objectives for these MOUs, including assisting partner countries in mapping reserves, offering U.S. and allied companies the right of first refusal for development, and protecting mapping data from unauthorized access. Cooperative activities include data acquisition, analysis, resource assessment, scientific collaboration, training, and education.
The reported version includes amendments, notably replacing the original text after the enacting clause with revised provisions. These revisions include a sense of Congress prioritizing onshoring of critical mineral processing and updated definitions, as well as changes to the notification process to Congress, requiring a report detailing implementing partners, scope, activities, costs, and funding sources.
Expected Effects
The likely effect of this bill is increased cooperation between the U.S. and partner countries in the exploration and development of critical minerals and rare earth elements. This could lead to a more diversified and secure supply chain for these essential resources.
It may also incentivize private sector investment in these areas, particularly for U.S. and allied companies. The bill also emphasizes the importance of protecting sensitive mapping data.
Potential Benefits
- Enhanced security of supply chains for critical minerals and rare earth elements.
- Increased opportunities for U.S. companies in the exploration and development of these resources.
- Potential for job creation in the mining and processing sectors.
- Improved understanding of global mineral resources through scientific and technical cooperation.
- Support for sustainable development of mineral resources in partner countries.
Potential Disadvantages
- Potential for environmental impacts associated with increased mining activity.
- Risk of exploitation of partner countries if agreements are not carefully negotiated.
- Possible displacement of local communities in partner countries due to mining projects.
- Increased reliance on foreign sources, even if from partner countries.
- Potential for increased costs to consumers if onshoring processing is prioritized.
Most Disadvantaged Areas:
Constitutional Alignment
The bill appears to align with the Commerce Clause (Article I, Section 8, Clause 3) by promoting international trade and securing resources essential for the U.S. economy. It also aligns with the General Welfare Clause (Article I, Section 8, Clause 1) by aiming to ensure a stable supply of critical minerals, which are vital for various industries and national security.
The bill does not appear to infringe upon any specific individual rights or liberties protected by the Bill of Rights. The emphasis on collaboration with the Secretary of State suggests adherence to the President's authority in foreign affairs.
However, the potential environmental impacts of increased mining activity could raise concerns related to the government's responsibility to protect natural resources for future generations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).