Last week Prinsights covered the two latest White House actions aimed at getting Chinese metal out of American weapons and keeping U.S. minerals from leaving the country. The steps are all part of an accelerating campaign to rebuild U.S. mineral supply. On August 7, the White House took the next strategic step in that battle.
At a U.S. State Department roundtable with more than 200 mining executives, which the White House called the largest such gathering in over 120 years, President Trump announced more than $2 billion in new commitments to fund development of American mines, magnet makers, and battery plants, plus $180 million for the mining schools to train the future workforce.
“We’re reclaiming America’s rightful place as the minerals superpower of the world,” he told the room.
Executives in attendance included leaders from MP Materials, the latest company to receive financial backing by the Pentagon, along with NioCorp, Energy Fuels and Resolution Copper.
The largest single commitment in this wide-reaching package is $1.4 billion, a conditional loan from the Pentagon’s Office of Strategic Capital to Sila Nanotechnologies, to expand silicon-carbon battery anodes and build a lithium-ion cell plant for satellites, drones, and munitions.
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