President Trump Announces Over $2 Billion in Investments to Boost American Mining and Critical Mineral Supply Chains

President Donald J. Trump announced over $2 billion in critical mining and related projects, along with more than $180 million in investments for mining schools, during a roundtable with the mining industry on August 7, 2026. The Department of War is investing significantly in companies like Sila Nanotechnologies for battery components and Niron Magnetics for rare earth-free magnets to strengthen defense supply chains. The Export-Import Bank of the United States (EXIM) also announced $58 million in three new rare earths deals to fortify U.S. supply chains. These initiatives aim to reduce reliance on foreign countries for critical materials and enhance national and economic security.