Secretary Bessent Issues Statement Welcoming S&P Global Release of Critical Mineral Reference Prices

WASHINGTON — Today, the U.S. Department of the Treasury welcomed S&P Global’s introduction of new reference prices for critical minerals, calling the development an important advancement in promoting greater transparency to enable market-based price discovery across global critical minerals markets. The new benchmarks cover Gallium, Germanium, Tungsten, Antimony, and Neodymium and Praseodymium, providing enhanced pricing visibility and market intelligence that will support more informed investment and sourcing decisions.Transparent, credible reference prices are essential to well-functioning markets. By improving price visibility, these reference prices can help strengthen investor confidence, encourage long-term private-sector investment, and support the development of critical mineral supply chains while countering the effects of non-market policies and practices.“Transparent, market-based pricing is essential to attracting the private capital needed to build secure, resilient, and diversified critical mineral supply chains,” said Secretary of the Treasury Scott Bessent.