WASHINGTON—U.S. Senators Mitt Romney (R-UT) and Catherine Cortez Masto (D-NV) introduced an amendment to the American Energy Innovation Act that would establish a mechanism to monitor mineral investments under the Belt and Road Initiative of the People’s Republic of China. The text of the amendment can be found here.
“Over the last two decades, China has significantly increased its domestic mineral consumption.” Senator Romney said. “Now, under its Belt and Road Initiative, China is investing in mineral production beyond its borders. The U.S. must monitor China’s mineral investments to prevent mineral assets in developing countries from becoming beholden to the Chinese government and to thwart any efforts to weaponize those mineral investments against us.”
“China plays a dominant role in the global supply chain for minerals critical to a wide range of military and commercial products, and the country is expanding its reach through investments in developing countries,” said Senator Cortez Masto. “Not only will this legislation bolster U.S. national security by ensuring the Administration is monitoring Chinese investments in vital resources and keeping Congress informed, but it will also protect American industries and help Nevada’s growing critical mineral operations access information relevant to industry market competition.”