U.S. locks in mining deals abroad using development aid as leverage
H.R. 2969 — Finding ORE Act · Filed by Robert Wittman (R-VA) · 12 cosponsors · Introduced Apr 17, 2025 · Hearing held
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What it does
This bill authorizes the Secretary of the Interior to sign agreements with foreign countries to jointly map deposits of critical minerals and rare earth elements. In exchange for U.S. geological expertise and mapping data, the bill ensures that American and allied companies get first dibs on developing those deposits, and that mapping data is kept away from non-allied countries. The bill also directs U.S. development finance agencies to prioritize loans for projects that process minerals in the U.S. or allied nations.
Why we flagged it
The bill's core function is to use U.S. geological expertise and development finance as leverage to secure preferential access to foreign mineral deposits for American and allied companies, framed as supply-chain resilience but operationally a geopolitical and commercial advantage mechanism.
What the text implies
- The 'right of first refusal' for U.S. and allied companies may effectively lock developing nations out of competitive bidding on their own mineral resources, reducing their negotiating power and revenue potential.
- Directing U.S. development finance (USAID, Ex-Im Bank) to prioritize projects that process minerals in the U.S. or allied countries subsidizes domestic and allied industrial capacity at the expense of host-country value-added processing and job creation.
The full analysis lists 5 implications of this text.
Who stands to gain
U.S. and allied mining and mineral processing companies; U.S. development finance institutions (USAID, Export-Import Bank, DFC); U.S. geological survey contractors and research institutions