H.R. 7037: Developing Overseas Mineral Investments and New Allied Networks for Critical Energies Act

H.R. 7037 would use U.S. diplomacy and federal financing to help allied and eligible partner countries develop mineral supply chains that reduce reliance on China. The bill's findings describe that reliance as a risk to manufacturing, energy, technology, and defense.

The proposal would formally authorize the Minerals Security Partnership, a multinational effort supporting critical-mineral projects. It would also require procedures to prevent or review sales of mineral assets to prohibited foreign entities, while allowing limited information-sharing exceptions during an international energy emergency or with presidential approval.

Eligible countries could negotiate Energy Security Compacts lasting up to 10 years. Participation would generally be limited to lower-income countries or countries approaching graduation from World Bank development programs, and countries designated as foreign countries of concern could not participate. Federal agencies could coordinate financing, development assistance, trade support, and technical expertise around each compact.

The State Department would have 180 days to prepare a mineral supply-chain strategy and 210 days to brief Congress. A new council would be due within 90 days, annual program reports would continue for five years, and the Government Accountability Office would begin annual reviews after two years.

For U.S. manufacturers, energy projects, and defense suppliers, the intended payoff is a broader pool of countries mining and processing essential materials. The bill would also create fellowships for mining and STEM professionals and seek at least 10 visiting scholars each year when feasible. Gold and copper would count as critical minerals for those exchange programs.