Trump Announces $2 Billion to Boost U.S. Critical Minerals

President Donald Trump announced more than $2 billion in funding to support U.S. battery and critical-mineral companies during a Friday roundtable at the State Department. The initiative aims to reduce American reliance on Chinese suppliers for materials such as lithium, silicon, graphite, and rare-earth elements, which are essential for artificial intelligence infrastructure, semiconductors, and aerospace technology.

The funding package includes several large-scale loans from the Department of Defense, including $1.4 billion for Sila Nanotechnologies, $400 million for Sunrise Energy Metals, and $150 million for Niron Magnetics. The administration also committed an $85.5 million equity investment in Strategic Bauxite.

To support the long-term workforce, the administration is providing over $180 million in grants for mining education and trade programs. This includes a $100 million grant program from the Department of Energy specifically designed to strengthen the critical minerals workforce.