BOLSTERING AMERICAN MINING: Today, President Donald J. Trump held a historic roundtable with the mining industry where he announced over $2 billion in critical mining and mining-related projects to revitalize the industry and over $180 million in mining school investments to bolster the American mining workforce. The Department of War is investing over $85 million into Strategic Bauxite to secure the supply chain of refractory-grade bauxite to support manufacturing of high-temperature-resistant materials used to make critical components for our warfighters and essential to the modern industrial economy.
The Department of War is investing $150 million into Niron Magnetics, a Minnesota company developing and producing 100% domestic, rare earth-free permanent magnets to support the defense industrial base and help eliminate dependency on foreign-produced rare earth magnets. The Department of War is investing $1. 4 billion into Sila Nanotechnologies, a California-based manufacturer, to expand production of silicon-carbon battery anodes and buildout a lithium-ion battery cell manufacturing facility to strengthen the supply chains of satellite operations, unmanned aerial systems, and munitions.
The Department of War is investing $400 million into Sunrise Energy Metals to develop a full scandium value chain, including the world’s first primary scandium mine, to help secure the supply chain of high-heat aluminum alloys which are used in fighter jets and spacecraft. The Export-Import Bank is investing $8 million into 5E Advanced Materials, a California-based company to develop a boron deposit, a key component of permanent magnets, semiconductors, and glass. The Export-Import Bank is investing $25 million into Westwater Resources in Alabama to develop the Coosa Graphite Deposit to support domestic battery manufacturing.
The Export-Import Bank is investing $25 million into Global Advanced Materials in Pennsylvania for tantalum and niobium to support electronic, magnet, and steel production. The Development Finance Corporation is matching a $4. 8 million investment into Harena Rare Earths…