Senators asked top Pentagon officials on Tuesday to provide legal rationale for the government taking direct equity stakes in critical mineral companies. They’re also weighing legislation on the issue.
Congress is ramping up oversight of the Department of Defense as it mulls how to spend billions of dollars to reduce the nation’s reliance on Beijing for critical minerals needed for the economy and defense systems.
Senate Armed Services Chair Roger Wicker (R-Miss.) and ranking member Jack Reed (D-R.I.) said they’re still waiting on a critical legal opinion from the Department of Defense’s general counsel on the ownership stakes.
“Have any idea how much longer that will take Mr. Secretary?” Wicker asked Michael Cadenazzi, assistant secretary of Defense for industrial base policy during a hearing.
