Trump administration to invest $3 billion in minerals projects to boost U.S. defense supply chains
The White House needs critical minerals to replenish weapons stockpiles depleted during the Iran conflict and reduce U.S. dependence on Chinese supply chains.
The US government plans to invest $3 billion in minerals projects. This move aims to bolster US defense supply chains. The White House is seeking critical minerals to replenish depleted weapons stockpiles, according to CNBC World.
The investment comes as companies explore new sources of critical minerals. Glomar Minerals, for example, is surveying its license area in the Pacific Clarion-Clipperton Zone for polymetallic nodules, which are rich in minerals such as manganese, cobalt, and rare earths, Mining.com reports. These minerals are crucial for defense, aerospace, energy, and modern manufacturing.
Glomar Minerals aims to start processing polymetallic nodules before the end of President Donald Trump's term. The company is evaluating regulatory routes and considering launching operations in exclusive economic zones.
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