Trump unveils $2bn critical minerals push, mining school funding
President Trump announced over $2 billion for critical minerals projects and $180 million for mining schools to boost domestic supply chains.
President Donald Trump has announced a package of investments exceeding $2 billion aimed at bolstering the United States' critical minerals supply chain, a move designed to reduce dependence on foreign sources, particularly China.
The largest component is a $1.4 billion loan from the Department of Defense to Sila Nanotechnologies for the construction of a new lithium battery plant. Additional funding includes $150 million for Niron Magnetics to scale up production of high-powered magnets that do not rely on rare earth elements, and $400 million to support Sunrise Energy Metals in developing a scandium mine in Australia.
Speaking at the Department of State, Trump also revealed a significant increase in funding for educational institutions that train the mining workforce. The administration will invest $180 million in mining schools, a substantial rise from the $10 million annual funding initially requested by the institutions. This comes as data shows accredited U.S. mining programs graduate fewer than 170 engineers annually, compared to over 3,000 in China, and with half of the current domestic mining workforce expected to retire within three years.
The announcement underscores the administration's focus on securing a domestic supply of minerals essential for high-tech products, missiles, and defense systems. The push has gained urgency following China's restrictions on critical mineral sales last year and ongoing military operations that are depleting munitions stockpiles. The new projects are expected to create thousands of jobs and are part of a broader strategy involving direct investments, grants, and alliances with partner nations like Australia.