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President Donald Trump announced roughly $3 billion in U.S. government investments and financing for critical minerals, battery materials and mining projects, part of a broader effort to strengthen domestic production and reduce reliance on China.
Speaking Friday at a State Department roundtable attended by mining executives, investors, educators and government officials, Trump said the United States aims to regain its position as a global minerals powerhouse. The administration views critical minerals as essential to national security, advanced manufacturing and the defense industry.
Among the largest commitments is a $1.4 billion conditional loan from the Pentagon’s Office of Strategic Capital to Sila Nanotechnologies, a producer of materials used in lithium-ion batteries. Sunrise Energy Metals received a $400 million conditional loan for its scandium project, while magnet developer Niron Magnetics secured a $150 million conditional loan.
The U.S. Export-Import Bank will also provide $58 million in financing to Westwater Resources, Global Advanced Metals and 5E Advanced Materials.
Washington is accelerating investment in critical mineral supply chains as demand grows for materials used in missiles, fighter aircraft, armored vehicles, infrared sensors, batteries and other advanced technologies. Rare earths, scandium, tungsten and germanium are among the strategic materials considered important to U.S. defense production.
The push comes as the U.S. seeks to replenish weapons inventories affected by the Iran conflict while reducing dependence on Chinese mining and processing capacity. China remains a dominant force in the global supply of many strategic minerals.
The administration is also targeting a shortage of skilled mining workers. The Department of Energy announced $100 million in grants for educational programs across 14 accredited U.S. mining schools, with a goal of doubling mining-related university graduates within two years. The Pentagon will provide another $80 million for projects at three mining schools.
Since returning to office, Trump has pursued a wider U.S. critical minerals strategy that includes a $12 billion strategic stockpile, government-backed investments in domestic mines and processing facilities, and measures designed to reduce defense contractors’ dependence on Chinese supplies.
Australia also welcomed U.S. financing for Sunrise Energy Metals, whose New South Wales scandium project contains a major resource used in aerospace, defense and clean-energy applications.
