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Trump’s $3b minerals push
President Donald Trump said on Friday the U.S. government will invest $3 billion in critical minerals and battery projects as part of a push to increase domestic production and boost national security and industrial policy.
“The U.S. government will invest $3 billion in critical minerals and battery projects”
Trump told more than 200 mining executives, educators, investors and fellow politicians at a roundtable at the State Department that “We’re reclaiming America’s rightful place as the minerals superpower of the world.”
The Defense Department’s Office of Strategic Capital announced a $1.4 billion conditional loan for Sila Nanotechnologies, which makes lithium-ion battery parts, and also extended a $400 million conditional loan to scandium miner Sunrise Energy Metals and a $150 million conditional loan to magnet developer Niron Magnetics.
The U.S. Export-Import Bank will lend $58 million to Westwater Resources, Global Advanced Metals and 5E Advanced Materials, and Interior Secretary Doug Burgum, Secretary of State Marco Rubio, Commerce Secretary Howard Lutnick and National Security Council official David Copley attended the announcement.
The White House said it needs critical minerals to replenish weapons stockpiles depleted during the Iran conflict and reduce U.S. dependence on Chinese supply chains, while U.S. forces have burned through large numbers of precision-guided missiles and air-defense interceptors during the five-month-old Iran war.
Who attended, what they said
Trump’s remarks at the State Department roundtable were framed around “Critical minerals are the raw materials of American strength that power everything from advanced weaponry to automobiles,” and he said the goal was to mine, refine and make the products “right here in the USA.”
Interior Secretary Doug Burgum, Secretary of State Marco Rubio, Commerce Secretary Howard Lutnick and National Security Council official David Copley attended the announcement, and the event included executives such as Tom Albanese of American Ocean Minerals and Jim Litinsky of MP Materials.
Albanese gave Trump a gold replica of a nodule that the company hopes to mine from the Pacific seabed, and Litinsky gave Trump magnets that had been produced for General Motors in the company’s Texas plant.
The White House needs the minerals to replenish weapons stockpiles depleted during the Iran conflict, and defense officials and lawmakers warned that replenishing some inventories could take years given existing production constraints.
The administration disputed reports of significant shortages, while Pentagon officials and defense companies said supplies of minerals including rare earths, tungsten, germanium and scandium are essential for manufacturing precision-guided missiles, fighter aircraft, armored vehicles, infrared sensors and other advanced weapons systems.
Workforce funding and next steps
Alongside the loans and financing, the Department of Energy hosted representatives from all 14 accredited U.S. mining schools to promote mining careers and encourage more students to enter the field.
“The department announced $100m in grants to help boost educational programs”
The department announced $100 million in grants to help boost educational programmes and set a goal of doubling the number of mining-related graduates at the nation’s universities within two years, and Assistant Energy Secretary Audrey Robertson said, “We need to work on some systemic changes to how we as a nation want to offer our brightest students an opportunity to participate in this industry.”
The Pentagon also said it would fund $80 million in projects at three U.S. mining schools, and officials pointed to China’s extensive network of mining universities as a key advantage in its dominance of global mineral production.
Since returning to office, Trump has launched a $12 billion strategic minerals stockpile, backed equity investments in companies developing U.S. mines and processing facilities, and sought to limit defense contractors’ reliance on supplies from China.
Australia’s government welcomed the Trump administration’s loan to Sunrise Energy Metals for a scandium mine in New South Wales, with Resources Minister Madeleine King saying the “Sunrise Scandium Project hosts the world’s largest and highest-grade known scandium resource.”
