The bipartisan Critical Minerals Policy Act (S-1113) was introduced in the Senate on Thursday. The legislation proposes mineral-specific actions for Cobalt, Helium, Lead, Lithium, Low-Btu gas, Phosphate, Potash, Rare earth elements, and Thorium. Exploration efforts are underway in Arizona for potash in the Holbrook basin and confirmation drilling of the nearby St John's helium-CO2 field is ongoing [right, credit EOR-Ridgeway Arizona Petroleum].
Among the provisions of the bill is the requirement that:
Not later than 4 years after the date of enactment of this Act, in consultation with applicable State (including geological surveys), local, academic, industry, and other entities, the Secretary [of Interior] shall complete a comprehensive national assessment of each critical mineral that—More discussion is online at:
(1) identifies and quantifies known critical mineral resources, using all available public and private information and datasets, including exploration histories;
(2) estimates the cost of production of the critical mineral resources identified and quantified under this section, using all available public and private information and datasets, including exploration histories;
(3) provides a quantitative and qualitative assessment of undiscovered critical mineral resources throughout the United States, including probability estimates of tonnage and grade, using all available public and private information and datasets, including exploration histories; and
(4) pays particular attention to the identification and quantification of critical mineral resources on Federal land that is open to location and entry for exploration, development, and other uses.
http://www.republicofmining.com/2011/05/26/critical-minerals-policy-act-of-2011-background-and-section-by-section/
http://www.mineweb.co.za/mineweb/view/mineweb/en/page72068?oid=128038&sn=Detail&pid=102055