The Trump administration has committed more than $2 billion to American mining, in a package unveiled Friday alongside what the White House called the largest meeting between a sitting president and industry leaders in over 120 years.
Most of the money moves through the Department of War. Sila Nanotechnologies drew the single largest award at $1.4 billion, earmarked for silicon-carbon battery anodes and lithium-ion cells. Sunrise Energy Metals received $400 million to build out a scandium value chain and a primary mine.
Niron Magnetics picked up $150 million for permanent magnets that avoid rare earths altogether, a workaround to a supply chain China largely controls. Standard Bauxite was awarded $85 million for refractory-grade bauxite.
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The Export-Import Bank added a further $58 million in loans split across three companies. Westwater Resources and Global Advanced Metals each secured $25 million, the former for a graphite mine and processing facility that would give the country its first domestic source of natural graphite, the latter to expand tantalum and niobium processing. 5E Advanced Materials took $8 million toward a boron project targeting commercial production in 2028.
The Development Finance Corporation also put $4.8 million into Harena Rare Earths as a matching investment.
Workforce spending accounted for another $180 million. The Department of Energy is distributing $100 million across 14 mining schools, while the Department of War is directing $80 million to three institutions to train geologists, metallurgists and engineers.
“Critical mineral security is national security,” said ExIm chairman John Jovanovic, framing the loans as part of a broader effort to restore industries the U.S. let slip abroad.
The announcements build on roughly $40 billion across some 160 minerals deals the administration says it has struck since January 2025.
