From smartphones and electric vehicles to advanced weapons systems, the minerals behind modern technology have become a new battleground for global competition.
The United States is now stepping up efforts to secure these essential resources, with President Donald Trump announcing a $3 billion investment plan on Friday to expand domestic mining, battery production, and critical mineral projects.
The announcement was made during a US State Department roundtable attended by more than 200 mining executives, investors, educators, and political leaders, where Trump outlined plans to strengthen America’s mineral industry and reduce reliance on overseas supply chains.
“We’re reclaiming America’s rightful place as the minerals superpower of the world,” Trump said, highlighting the importance of critical minerals for national security, industrial growth, and advanced manufacturing.
The investment package includes several major financial commitments, including a $1.4 billion conditional loan from the Defence Department’s Office of Strategic Capital (OSC) to Sila Nanotechnologies, which produces materials for lithium-ion batteries.
The OSC also approved a $400 million conditional loan for Sunrise Energy Metals, a scandium mining company, and a $150 million conditional loan for Niron Magnetics, which develops advanced magnet technology.
Trump announced $3 billion in mining projects, including funding for battery, copper, graphite and boron projects, as his administration seeks to boost domestic production of critical minerals https://t.co/PmQ9CdKJDD pic.twitter.com/Fa0aCsD3yk
— Reuters (@Reuters) August 7, 2026
The US Export-Import Bank will provide an additional $58 million in loans to support projects by Westwater Resources, Global Advanced Metals, and 5E Advanced Materials.
“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.
The investment comes as Washington seeks to strengthen domestic supply chains and reduce dependence on China, which currently plays a leading role in global mineral processing and production.
Minerals such as rare earth elements, tungsten, germanium, and scandium are essential for producing precision-guided missiles, fighter aircraft, defence equipment, electric vehicles, and other advanced technologies.
The White House said strengthening domestic mineral production is also linked to rebuilding weapons inventories, which have faced increased pressure due to recent military demands.
Alongside industry funding, the Department of Energy announced new initiatives to encourage more students to enter mining-related fields.
The department allocated $100 million in grants to improve mining education programs and set a goal of doubling the number of mining graduates at US universities within two years.
The Pentagon also announced $80 million for projects at three US mining schools, as officials emphasized the need to compete with China’s extensive minerals research and education network.
Since returning to office, the Trump administration has increased efforts to build a strategic minerals supply chain through government-backed investments, stockpiles, and support for domestic mining projects.
Officials said the move aims to counter years of foreign investment that allowed China to gain a dominant position in the mining and processing of key resources.
Australia also welcomed the US funding support for Sunrise Energy Metals’ scandium project in New South Wales. Australian Resources Minister Madeleine King said the project could support industries including aerospace, defence, and clean energy.
The latest investment reflects Washington’s broader effort to secure the minerals considered essential for America’s economic competitiveness and national security.
