California Republican congressman Ken Calvert said America must be "clear-eyed about the Chinese and Russian aggression when it comes to consolidating critical mineral resources.”
"Now copper has broken below $7,475 a tonne, traders will be eyeing the $6,955 20-month low touched on July 15," said Saxo Bank head of commodity strategy Ole Hansen.
The initiative, launched in June, is designed to funnel investment toward developing countries with mining projects that adhere to stricter environmental, social and governance standards.