S. 1463 — Finding ORE Act

This section defines terms for purposes of the Act, including (1) "allied foreign country" as a country with which the United States has entered into a mutual defense treaty or other mutual defense agreement; (2) "critical mineral" as having the meaning given that term in section 7002(a) of the Energy Act of 2020 (30 U.S.C. 1606(a)); (3) "institution of higher education" as having the meaning given that term in section 101 of the Higher Education Act of 1965 (20 U.S.C. 1001)—which generally includes public or nonprofit institutions that admit students with a high school diploma or equivalent, are legally authorized in their state, provide programs leading to at least an associate degree or equivalent, and are accredited; (4) "partner foreign country" as a country that is a source of a critical mineral or rare earth element; (5) "rare earth element" as cerium, dysprosium, erbium, europium, gadolinium, holmium, lanthanum, lutetium, neodymium, praseodymium, promethium, samarium, scandium, terbium, thulium, ytterbium, or yttrium; and (6) "Secretary" as the Secretary of the Interior, acting through the Director of the United States Geological Survey.

This section authorizes the Secretary to enter into a memorandum of understanding (MOU) with one or more heads of agencies of partner foreign countries for scientific and technical cooperation in mapping critical minerals and rare earth elements. In negotiating such an MOU, the Secretary shall seek to increase the security and resilience of international supply chains for critical minerals and rare earth elements by (1) assisting the partner country in mapping reserves; (2) offering private companies headquartered in the United States or an allied foreign country a right of first refusal for further development; (3) facilitating private-sector investment, including through preferential financing from the U.S. International Development Finance Corporation and Export-Import Bank that prioritizes projects processing minerals in the United States or an allied country; and (4) protecting mapping data from unauthorized access or disclosure to governmental or private entities based in non-party or non-allied countries. Cooperative activities under the MOU include acquisition, analysis, and interpretation of geologic and related data; prospectivity mapping and mineral resource assessments; scientific collaboration and training for sustainable mineral development; education in geoscience and resource management; training in international standards; and cooperation among U.S. federal entities, institutions of higher education, research centers, private companies, and partner-country counterparts. The section requires the Secretary to notify Congress at least 30 days before entering an MOU; collaborate with the Secretary of State in prioritizing and selecting partner countries, negotiating, and implementing the MOU; and consult with relevant private-sector actors in prioritizing countries and assessing facilitation of private-sector development interests.