50 USC 3372 - Monitoring mineral investments under Belt and Road Initiative of People’s Republic of China

U.S Code last checked for updates: Nov 22, 2024

§ 3372.

Monitoring mineral investments under Belt and Road Initiative of People’s Republic of China

(a)

Report required

Not later than 1 year after December 27, 2020, the Director of National Intelligence (referred to in this section as the “Director”), in consultation with the Secretary of the Interior, the Secretary of Energy, the Secretary of Commerce, the Secretary of State, the Secretary of Defense, and the United States Trade Representative, shall submit to the appropriate congressional committees a report on investments in minerals under the Belt and Road Initiative of the People’s Republic of China that includes an assessment of—

(1)

notable past mineral investments;

(2)

whether and how such investments have increased the extent of control of minerals by the People’s Republic of China;

(3)

any efforts by the People’s Republic of China to counter or interfere with the goals of the Energy Resource Governance Initiative of the Department of State; and

(4)

the strategy of the People’s Republic of China with respect to mineral investments.

(b)

Monitoring mechanism

In conjunction with each report required by subsection (a), the Director shall submit to the appropriate congressional committees a list of any minerals with respect to which—

(1)

the People’s Republic of China, directly or through the Belt and Road Initiative—

(A)

is increasing its concentration of extraction and processing;

(B)

is acquiring significant mining and processing facilities;

(C)

is maintaining or increasing export restrictions; or

(D)

has achieved substantial control of the supply of minerals used within an industry or related minerals;

(2)

there is a significant difference between domestic prices in the People’s Republic of China as compared to prices on international markets; or

(3)

there is a significant increase or volatility in price as a result of the Belt and Road Initiative of the People’s Republic of China.

(c)

Critical mineral evaluation

For any mineral included on the list required by subsection (b) that is not already designated as critical by the Secretary of the Interior pursuant to section 1606(c) of title 30, the Director shall—

(1)

determine, in consultation with the Secretary of the Interior, the Secretary of Energy, the Secretary of Commerce, the Secretary of State, the Secretary of Defense, and the United States Trade Representative, whether the mineral is strategic and critical to the defense or national security of the United States; and

(2)

make a recommendation to the Secretary of the Interior regarding the designation of the mineral under section 1606(c) of title 30.

(d)

Annual updates

(e)

Form

(f)

Appropriate congressional committees defined

In this section, the term “appropriate congressional committees” means—

(1)

the Committee on Energy and Natural Resources, the Committee on Foreign Relations, the Committee on Armed Services, the Committee on Finance, the Committee on Homeland Security and Governmental Affairs, the Committee on Commerce, Science, and Transportation, and the Committee on Appropriations of the Senate; and

(2)

the Committee on Energy and Commerce, the Committee on Foreign Affairs, the Committee on Armed Services, the Committee on Ways and Means, the Committee on Homeland Security, and the Committee on Appropriations of the House of Representatives.

(Pub. L. 116–260, div. Z, title VII, § 7003, Dec. 27, 2020, 134 Stat. 2577.)

cite as: 50 USC 3372