The US government will invest $3 billion in critical minerals and battery projects as part of a push to increase domestic production and boost national security and industrial policy, President Donald Trump has said.
“We’re reclaiming America’s rightful place as the minerals superpower of the world,” Trump told more than 200 mining executives, educators, investors and fellow politicians at a roundtable at the State Department aimed at supporting the industry.
He announced a slew of investments during his speech, including a $1.4bn conditional loan from the Defence Department’s Office of Strategic Capital for Sila Nanotechnologies, which makes lithium-ion battery parts.
The OSC also extended a $400 million conditional loan to scandium miner Sunrise Energy Metals and a $150m conditional loan to magnet developer Niron Magnetics.
The US Export-Import Bank will lend $58m to 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.
&uuid=(email))