Trump Invokes Defense Production Act for Strategic Minerals
President Donald Trump signed an executive order to expedite the production of gold and other minerals to reduce reliance on foreign adversaries.
Donald Trump signed Executive Order 14241 on March 20, 2025, invoking the Defense Production Act to accelerate the permitting and production of copper, uranium, potash, and gold. The administration designated gold as a critical mineral essential for national security and the decoupling of supply chains from adversaries such as China.
Despite this designation, the United States Geological Survey did not add gold to the official federal Critical Minerals List. Under the Energy Act of 2020, minerals must have supply chains vulnerable to disruption to qualify, a criteria gold failed because the United States maintains sufficient domestic reserves.
The administration continues to treat gold as a strategic asset regardless of its official list status. Treasury Secretary Scott Bessent recently confirmed an audit of gold holdings at Fort Knox, which are valued at over $1 trillion. During a press conference regarding sanctions on Iran, Bessent formally classified gold as a sanctionable strategic asset class.
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