President Donald Trump said that his administration will invest $3 billion (over ₹28,100 crore) in critical minerals and battery projects as part of efforts to expand domestic production and strengthen national security and industrial policy.
During a roundtable at the State Department focused on supporting the industry, Trump told over 200 mining executives, educators, investors and fellow politicians, “We’re reclaiming America’s rightful place as the minerals superpower of the world.”
He stated the sector had not received adequate attention from Washington in recent years.
announced several investments during his address, including a $1.4 billion conditional loan from the Defense Department’s Office of Strategic Capital to Sila Nanotechnologies, a company that manufactures components for lithium-ion batteries.
The OSC also announced a $400 million conditional loan for scandium miner Sunrise Energy Metals, along with a $150 million conditional loan for magnet developer Niron Magnetics.
The US Export-Import Bank will provide $58 million in lending to Westwater Resources, Global Advanced Metals and 5E Advanced Materials, according to Reuters.
“Critical minerals are the raw materials of American strength that power everything from advanced weaponry to automobiles, and we want these essential products to be mined, refined and made right here in the USA,” Trump said.
Interior Secretary Doug Burgum, Secretary of State Marco Rubio, Commerce Secretary Howard Lutnick and National Security Council official David Copley were present at the announcement.
The White House is seeking critical minerals to replenish weapons stockpiles depleted during the Iran conflict and lessen US reliance on Chinese supply chains.
Several executives attending the event also presented gifts to Trump. Tom Albanese, chairman of deep-sea mining company American Ocean Minerals, handed the president a gold replica of a seabed nodule that the firm hopes to extract from the Pacific Ocean. Trump said last year that he could bypass the UN-backed International Seabed Authority and grant licences for international seabed mining.
Jim Litinsky, CEO of rare earths producer MP Materials, which receives financial backing from the Pentagon, presented Trump with magnets manufactured for General Motors at the company’s Texas facility.
The event was also attended by executives from Lithium Americas, which is developing the largest lithium mine in the US; NioCorp, which is constructing a scandium mine intended to supply defence contractor Lockheed Martin; and Energy Fuels, which received a $725 million conditional loan from the OSC in June.
US forces have used significant quantities of precision-guided missiles and air-defence interceptors during the five-month-old war with . Defence officials and lawmakers have cautioned that rebuilding some of these stockpiles could take years due to existing production constraints. However, the Trump administration has rejected reports suggesting major shortages.
According to Pentagon officials and defence companies, minerals such as rare earths, tungsten, germanium and scandium are crucial for producing precision-guided missiles, fighter jets, armoured vehicles, infrared sensors and other advanced weapons systems.
$100 million in grants to help boost educational programs
The Department of Energy on Friday brought together representatives from all 14 accredited US mining schools as part of an effort to promote careers in mining and encourage more students to pursue the field.
The department announced $100 million in grants aimed at strengthening educational programmes and set a target of doubling the number of mining-related graduates from US universities within the next two years.
“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,” Assistant Energy Secretary Audrey Robertson said.
The also announced plans to provide $80 million for projects at three US mining schools.
Officials have highlighted China’s extensive network of mining universities as a major advantage contributing to its dominance of global mineral production.
After returning to office, Trump has introduced a $12 billion strategic minerals stockpile, supported equity investments in companies developing mines and processing facilities in the US, and taken steps to reduce defence contractors’ dependence on Chinese supplies.
The administration argues that government backing is necessary to address decades of Chinese investment that have given Beijing a dominant position in the mining and processing of several strategic minerals.
Australia’s government on Saturday welcomed the Trump administration’s loan to Sunrise Energy Metals, which is developing a scandium mine in New South Wales.
Resources Minister Madeleine King stated the Sunrise Scandium Project contains the world’s largest and highest-grade known scandium resource, with applications across the aerospace, defence and clean energy sectors.
