The Trump administration has announced around $3 billion in investments and loans for critical minerals and battery projects, as Washington seeks to expand domestic production and reduce reliance on foreign supply chains.

US President Donald Trump announced during a meeting with mining executives, investors, and industry representatives at the State Department. He said the initiative was aimed at restoring the United States’ position as a global leader in critical minerals and ensuring essential materials are produced domestically.

Among the measures announced was a $1.4 billion conditional loan from the Defence Department’s Office of Strategic Capital to Sila Nanotechnologies, a company producing components for lithium-ion batteries. The office also extended conditional loans of $400 million to Sunrise Energy Metals and $150 million to Niron Magnetics.

The US Export-Import Bank will provide another $58 million in financing to Westwater Resources, Global Advanced Metals, and 5E Advanced Materials.

The administration says critical minerals such as rare earths, tungsten, germanium and scandium are essential for advanced weapons, fighter aircraft, armoured vehicles and other defence technologies. Washington is also seeking to reduce its dependence on China, which dominates global mining and processing of several strategic minerals.

The push comes as the US seeks to replenish weapons stockpiles following the Iran conflict. The Energy Department also announced $100 million in grants for mining education, while the Pentagon will provide $80 million for projects at three US mining schools.