Trump announces deals and investments to bolster mining

President Trump announced a series of mining projects valued at $3 billion, aimed at boosting the economy and securing supply chains. The Defense Department will sign a $1.4 billion loan agreement with Sila Nanotechnologies to build a battery facility in Washington state, according to The Hill.

The Pentagon is also investing $400 million to expand the production of scandium, a rare earth used to strengthen aluminium alloys for aerospace and aviation materials, as reported by The National UAE. Additionally, the Pentagon announced a $150 million conditional loan commitment to scale rare earth-free magnet production capabilities at a facility in Minnesota, and another $80 million for mining schools.

The US Export-Import Bank is lending $58 million to three critical mineral companies developing projects on copper, graphite, tantalum, and niobium. Trump stated that the investments are essential to make critical minerals, which power advanced technologies and defence systems, available in the US.

Brief written by urgent.news from The Hill, The National UAE — 2 reports on this story. Machine-written — it may contain errors, so check the original before relying on it.