Trump unveils $2 billion mining push
Washington, Aug 8 (IANS) President Donald Trump announced more than $2 billion in critical-mining and related projects as the United States seeks to rebuild domestic production, strengthen defence supply chains and reduce reliance on foreign countries.
Trump also unveiled more than $180 million for mining schools and workforce programmes at a mining industry roundtable hosted by Secretary of State Marco Rubio at the State Department.
“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 with the American skill and American hands,” Trump said.
“We have better skill. We have better hands than anybody in the world,” he added.
Trump said the US was opening mines at the fastest pace since the 1950s. The White House said the investments would address supply-chain vulnerabilities, protect the defence industrial base from geopolitical disruptions and support next-generation technologies.
The largest commitment is a $1.4 billion Department of War investment in California-based Sila Nanotechnologies. It will expand silicon-carbon battery anode production and establish a lithium-ion battery cell manufacturing facility. The materials are used in satellites, unmanned aerial systems and munitions.
The department will invest $400 million in Sunrise Energy Metals to develop a scandium supply chain, including what the White House described as the world’s first primary scandium mine. Scandium is used in high-heat aluminium alloys for fighter jets and spacecraft.
Minnesota-based Niron Magnetics will receive $150 million to develop rare earth-free permanent magnets. More than $85 million will go to Standard Bauxite to secure refractory-grade bauxite used in high-temperature-resistant materials.
The Export-Import Bank will invest $8 million in 5E Advanced Materials to develop a California boron deposit. It will provide $25 million each to Westwater Resources in Alabama for graphite and Global Advanced Materials in Pennsylvania for tantalum and niobium.
As such, the US International Development Finance Corporation will match a $4.8 million investment in Harena Rare Earths to develop a mine in Madagascar. The project is intended to secure magnet metals and rare earths for American manufacturing.
Trump also announced $100 million for 14 mining schools, with the goal of doubling the number of graduates earning credentials in mining, minerals and associated supply chains.
“We’re thrilled to announce that we’re delivering 100 million dollars to train the next generation of American miners,” he said.
More than $80 million will separately go to three schools for workforce programmes and technology innovation hubs. Trump said $81 million in grants would be directed to the Colorado School of Mines, the South Dakota School of Mines and Johns Hopkins University.
Rubio, Interior Secretary Doug Burgum and Commerce Secretary Howard Lutnick joined mining executives and university representatives at the roundtable. The White House described it as the largest meeting between a president and mining industry leaders in more than 120 years.
–IANS
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