Trump Administration to Back Three Critical Mineral Projects With $58 Million in Financing

Washington: The Trump administration is providing $58 million in financing for three critical mineral projects as the United States steps up efforts to strengthen domestic supply chains and reduce dependence on China for strategically important raw materials. The funding is being provided through the U.S. Export-Import Bank (ExIm Bank).

Under the package, Westwater Resources will receive a $25 million loan to support development of a natural graphite mine and processing facility in Alabama. The project is expected to become the first U.S. source of natural graphite, a material widely used in lithium-ion batteries.

Another $25 million will go to Global Advanced Metals to expand U.S. processing capacity for tantalum and niobium. The company currently sources these minerals from Australia and processes them in Pennsylvania. Tantalum is important for electronic components, while niobium is used to strengthen steel and has applications in aerospace and infrastructure.

The remaining $8 million will support 5E Advanced Materials, which plans to develop boron production in California. Commercial production from the project is targeted to begin in 2028. Boron has applications in nuclear energy and defence-related products, including body armour.

The financing forms part of a broader Trump administration strategy to expand U.S. mining and processing capacity and reduce exposure to foreign mineral supply chains. Critical minerals are increasingly viewed as strategically important because they are essential for batteries, electronics, defence equipment, aerospace technologies and advanced manufacturing.

The announcement comes as Washington intensifies efforts to rebuild domestic mineral supply chains and attract private investment into mining and processing. U.S. officials have described mineral security as an important component of national and economic security.

The three projects are relatively small compared with other federal commitments announced recently, but they underline Washington’s focus on developing domestic sources and processing capabilities for minerals considered vital to U.S. industry and national security.