Key facts
- The U.S. government will invest $3 billion in critical minerals and battery projects.
- Investments aim to bolster domestic production, national security, and industrial policy.
- Sila Nanotechnologies will receive a $1.4 billion conditional loan from the Office of Strategic Capital.
- Sunrise Energy Metals will receive a $400 million conditional loan.
- Niron Magnetics will receive a $150 million conditional loan.
- The Department of Energy is providing $100 million in grants to 14 U.S. mining schools.
President Donald Trump announced that the U.S. government will invest $3 billion in critical minerals and battery projects to bolster domestic production and national security. Speaking at a State Department roundtable with mining industry executives, Trump stated the goal is to reclaim America's position as a "minerals superpower."
The investments include over $2 billion in conditional loans for companies such as Sila Nanotechnologies, which will receive $1.4 billion to expand battery anode production, and Sunrise Energy Metals, a scandium miner receiving $400 million. Niron Magnetics, a magnet developer, will receive $150 million.
Additional funding includes $58 million from the U.S. Export-Import Bank to Westwater Resources, Global Advanced Materials, and 5E Advanced Materials for projects related to graphite, tantalum, niobium, and boron. The Department of War is also investing in Standard Bauxite for refractory-grade bauxite and providing over $80 million for workforce development programs at three schools.
The Department of Energy is allocating $100 million in grants to 14 U.S. mining schools to enhance educational programs and aims to double mining-related graduates within two years. These initiatives are part of a broader strategy to reduce U.S. dependence on foreign supply chains, particularly China, for materials essential to advanced weaponry, defense systems, and the modern industrial economy.