Washington ¨C U.S. President Donald Trump said Friday the federal government would invest $3 billion into multiple critical minerals and battery projects as part of a push to increase domestic production and boost national security and industrial policy.
¡°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 discussion at the State Department aimed at supporting the industry, which he said had not received ?enough attention ?from Washington in recent years.
He announced a slew of investments during his speech, including a $1.4 billion conditional loan ?from the U.S. Department of Defense¡¯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 $150 million conditional loan to magnet developer Niron Magnetics. The U.S. Export-Import Bank will lend $58 million ?to Westwater Resources, Global Advanced Metals and 5E Advanced Materials.
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