AK SB118

Establishes legislative intent for Alaska to develop a strategy encouraging exploration, development, production, refining, and value-added manufacturing of critical and essential minerals while maintaining existing environmental standards.

Requires the Department of Natural Resources to submit a report by the first day of the Second Regular Session of the Thirty-Fourth Alaska State Legislature comparing Alaska's current and potential future production of critical and essential minerals to national and global production levels.

Department of Natural Resources report must identify strategies to increase industry exploration and state production over the next three, five, and ten years, and compare Alaska's permitting timelines and exploration incentives with other jurisdictions.

Requires the Department of Commerce, Community, and Economic Development to submit a report analyzing Alaska's potential role in innovation, manufacturing, and transportation related to critical supply chains, including electric batteries, solar panels, wind turbines, and consumer devices.

Commerce Department report must evaluate whether Alaska's location provides value to global supply chains and identify three, five, and ten-year strategies for developing state innovation, manufacturing, and transportation capabilities.