Foreign Affairs: US President Donald Trump said on Friday that the federal government will invest $3 billion in several key mining and battery projects, part of a push to boost domestic manufacturing and advance national security and industrial policy.
According to Reuters published on August 8, 2026, Trump told more than 200 mining executives, educators, investors and politicians at a roundtable at the State Department that “we are reclaiming America’s rightful place as the world’s mining power.”
He announced several investments during his speech, including a $1.4 billion conditional loan from the US Department of Defense’s Strategic Capital for Nanotechnology Sila, which makes lithium-ion battery components.
The Sila Nanotechnology Strategic Capital Office also provided a $400 million conditional loan to scandium miner Sunrise Energy Metals and a $150 million conditional loan to magnet developer Niron Magnetics.
The White House needs the key minerals to replenish weapons stockpiles depleted during the Iran conflict and reduce the United States’ reliance on Chinese supply chains.
Editor: Nay Tola
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