The administration of U.S. President Donald Trump will direct $3 billion to projects in the extraction of critical minerals and the production of battery components. Washington hopes to strengthen the country's defense-industrial base and reduce dependence on supplies from China, according to infohub.kz.
Trump made the announcement on August 7 at a meeting with more than 200 mining executives, investors, representatives of educational institutions, and politicians at the U.S. State Department.
"We are restoring America's rightful place as the world's mineral superpower," the U.S. president said.
The largest portion of the funding is a conditional Pentagon loan of $1.4 billion to Sila Nanotechnologies. Another $400 million will go to Sunrise Energy Metals for the development of a scandium deposit, and $150 million to magnet manufacturer Niron Magnetics.
The U.S. Export-Import Bank will also allocate $58 million to three companies working with critical minerals.
Tungsten, rare earth metals, germanium, and scandium are used in the production of missiles, fighter jets, armored vehicles, and other modern weapons. The U.S. demand for such raw materials has grown amid the war with Iran. According to Reuters, U.S. forces used a significant number of long-range missiles and air defense interceptors during the five months of the conflict. The Pentagon has warned that replenishing some stockpiles could take years.
Earlier, Kursiv reported that American interest in critical minerals has already affected Kazakhstan. In May, Cove Kaz Capital Group LLC completed a deal to purchase a 70% stake in Severny Katpar, which is part of Samruk-Kazyna and develops the eponymous tungsten deposit. The company is linked to the sons of the U.S. president, Donald Trump Jr. and Eric Trump. The deal amounted to $114.8 million. The transaction began on February 13, 2026, according to the financial statements of Tau-Ken Samruk. Tungsten mined in Kazakhstan could be supplied to the U.S., Europe, Japan, and Korea.