US unveils $2bn boost for domestic mining initiatives

US unveils $2bn boost for domestic mining initiatives

Mon, August 10, 2026 at 3:39 PM GMT+3 2 min read

The US government has announced more than $2bn in new projects aimed at supporting the domestic mining industry, alongside over $180m in funding for strengthening mining-related workforce.

The update was delivered during a recent industry roundtable hosted by President Donald Trump.

The Department of War confirmed several significant investments across the sector. The funding includes over $85m for Standard Bauxite to support the supply of refractory-grade bauxite.

Minnesota-based Niron Magnetics will receive $150m to develop rare earth-free permanent magnets for defense applications.

Additionally, Sila Nanotechnologies in California is set to obtain $1.4bn to expand its manufacturing capacity for silicon-carbon battery anodes and lithium-ion battery cells.

A further $400m is being allocated to Sunrise Energy Metals for the establishment of a scandium value chain.

The Export-Import Bank of the US (EXIM) has allocated $8m to 5E Advanced Materials in California for boron deposit production, $25m to Westwater Resources in Alabama for graphite extraction, and another $25m to Global Advanced Materials in Pennsylvania for tantalum and niobium development.

EXIM Chairman John Jovanovic said: "Under President Trump's leadership, America is leading the way in critical minerals development and rare earths processing.

"Critical mineral security is national security. These deals are a large part of EXIM's strategy to fortify our supply chains, restore crucial industries that support well-paying American jobs, and safeguard everyday Americans from supply shocks."

Workforce and educational funding have also been earmarked, with the Department of Energy allocating $100m to 14 mining schools to double capacity for mining and minerals-related qualifications.

The Department of War will provide over $80m to three schools to support workforce development and technological innovation initiatives.

The administration stated that these steps aim to limit reliance on overseas sources for critical minerals and strengthen industrial and defence supply chains.

According to President Trump's office, the initiatives are also expected to address longstanding contraction in the US mining workforce.

The announcement follows a series of executive orders and measures since January 2025 focused on bolstering American minerals production, supply chain security, and manufacturing output.

The White House has cited these actions as efforts to boost both economic competitiveness and national security.

"US unveils $2bn boost for domestic mining initiatives" was originally created and published by Mining Technology, a GlobalData owned brand.