Trump Administration Announces $2 Billion Mining Revival Plan for Lithium, Rare Earths, Magnets

The Trump administration announced on the 7th a domestic mining revival support plan exceeding $2 billion (about 300 billion yen). The plan will provide $1.4 billion to companies in western California to expand lithium battery manufacturing facilities, strengthening the supply chain for drone systems. The government will also focus on workforce development, offering funding support to mining-related educational institutions.

In addition, the plan will support permanent magnet developers and rare earth mining developers. At a meeting held at the State Department, President Trump stressed the desire to mine, refine, and manufacture critical minerals in the United States, noting that a series of projects will create thousands of jobs and promote economic stability and national security.