President Donald Trump announced more than $180 million in grants to expand mining education across the country as part of his administration’s goal to boost the critical mineral industry.
At a roundtable event on Friday, Trump announced the grants alongside several mining executives and Cabinet members, including Secretary of State Marco Rubio, Secretary of the Interior Doug Burgum, and Secretary of Commerce Howard Lutnick.
“In my second term, we’re achieving our economic independence, ensuring that America is never again reliant on hostile foreign nations for the resources our country needs to dominate in the future,” Trump said.
“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,” he added.
As part of the announcement, the Department of Energy will offer up to $100 million to help expand the domestic critical mineral workforce over the next two years through its initiative called Providing Opportunities for Specialized Education in Critical Technologies, or PROSPECT.
DOE said PROSPECT will support new curricula, teaching tools, financial aid programs, and other incentives that promote growth in the mining industry.
The military will also offer more than $80 million for three universities: the Colorado School of Mines, the South Dakota School of Mines, and Johns Hopkins University.
Critical minerals and rare earths are essential for developing technology-based applications in the energy and defense sectors, plus everyday items such as smartphones, tablets, and microwaves. However, China has dominated the critical mineral industry for decades. Recently, officials have raised fears that China’s influence over the supply chain could harm national security. China has also threatened to cut off access to minerals as part of trade talks.
The administration also announced several new deals with rare earth companies.
The Export-Import Bank said it would provide $58 million for three new rare earths deals to help bolster the supply chain, including a $25 million loan to Westwater Resources in Alabama for graphite. The bank will also offer $25 million to Global Advanced Metals in Pennsylvania for tantalum and niobium, which are critical minerals used in electronics, magnets, and steel production.
Lastly, 5E Advanced Materials in California will be given a $5 million loan for their 5E Boron Americas project. Boron is a key component of permanent magnets, semiconductors, and glass.
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The International Development Finance Corporation also announced it will provide $4.8 million to help develop the Harena Rare Earths rare earth mine in Madagascar.
The administration has taken a number of steps to boost the domestic critical mineral and rare earth industry, including taking direct stakes in critical mineral companies. The administration has also created international partnerships and established a critical mineral stockpile.