On Thursday, March 20, the White House issued a press release announcing that President Donald Trump has signed an executive order to invoke emergency measures aimed at increasing U.S. mineral production.
The order invokes the Defense Production Act (DPA) to provide financing, loans, and investment support for domestic processing of critical minerals and rare earth elements. The U.S. International Development Finance Corporation (DFC) will collaborate with the Department of Defense (DoD) to fund new production projects.
Fast-Tracking Mining Approvals
The executive order also encourages the expedited approval of mining and processing projects and directs the Department of the Interior to prioritize production on federal lands.
Last week, reports surfaced that the Trump administration was considering building metal refining facilities on military bases to rapidly increase domestic critical mineral output.
Expanded List of Critical Minerals
Under the executive order, critical minerals include:
Uranium, Copper, Potash, Gold
Other elements, compounds, or materials designated by the chairman of the newly established National Energy Dominance Council (NEDC)
White House officials indicated that the list may also include coal.
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