The Trump admin will invest $2 billion into mining: here’s what it will do

President Donald Trump recently announced a massive investment in critical mining and mining-related projects. Here is what the money will do, where it will go, and how it will impact the U.S. economy, according to the White House.

by Summer Lane | August 10, 2026

President Donald Trump announced during a roundtable on Friday focused on the mining industry that his administration would invest a whopping $2 billion in critical mining and mining-related projects.

He also announced more than $180 million in mining school investments.

“Today, we’re taking another historic action toward the future of American mining,” the president said. “For years, mining schools and colleges that are essential to training the future leaders of this industry have been absolutely, and sadly, disappearing. Accredited mining programs in the United States now graduate less than 170 mining engineers each year, while China graduates more than 3,000 – and half of our current mining workforce is set to retire within the next three years.”

The president said during his comments at the roundtable that these mining schools came to the administration, seeking $10 million annually in funding. “Instead, I’m thrilled to announce that we’re delivering $100 million to train the next generation of American miners,” he stated.

According to the White House, the $2 billion total investment will be distributed in the following major areas:

• The Department of War will invest $85 million into Standard Bauxite (a sedimentary rock that has a high aluminum content) and another $150 million in Minnesota-based Niron Magnetics,
• The Department of War will additionally invest $1.4 billion into Sila Nanotechnologies for the expansion of silicon-carbon battery anodes and lithium-ion battery cell manufacturing,
• The Department of War will invest $400 million into Sunrise Energy Metals to bolster the world’s “first primary scandium mine,” a rare chemical element,
• Export-Important Bank will invest: $8 million into California-based 5E Advanced Materials (focused on developing boron), $25 million into Westwater Resources in Alabama (battery manufacturing), and $25 million into Global Advanced Materials in Pennsylvania (tantalum and niobium, also known as “transition metals” that are often found together),
• The Development Finance Corporation is “matching” a $4.8 billion investment into Harena Rare Earths to develop a mine in Madagascar that will benefit American manufacturing,
• The Department of Energy is investing $100 million into America’s 14 mining schools and the Department of War is investing more than $80 million into three schools for “major workforce development programs and technology innovation hubs to train the next generation of geologists, metallurgists, and mining engineers.”

Photo: Pixabay