# Summary
The SECURE Minerals Act of 2024 establishes a new independent trust called the Critical Mineral Reserve of the United States to reduce American dependence on foreign sources, particularly China, for critical minerals essential to national defense, energy, and manufacturing. The bill funds the reserve with $2.5 billion in initial appropriations for fiscal year 2025 and creates a seven-member Board of Governors to oversee operations. The reserve will maintain datasets on global mineral markets, identify supply vulnerabilities, and provide loans to licensed private companies (called "authorized market makers") to support domestic and allied production of critical minerals, with the goal of ensuring at least 40 percent domestic or allied production of each mineral at every stage of the supply chain. The Board will license a maximum of five authorized market makers, including at least two small businesses, to purchase minerals at prices that cover production costs when global markets are unfavorable. The reserve automatically terminates after 10 years, and the Comptroller General will conduct biennial reviews of its operations. Allied countries may contribute at least $100 million annually to participate in the reserve's lending programs.