President Donald Trump has signed an executive order invoking emergency powers to increase the country’s ability to produce critical minerals and coal. This move aims to reduce reliance on foreign imports and boost domestic natural resources development. The White House official stated that the President is utilizing the Defense Production Act, which provides financing, loans, and investment support for domestic mineral processing projects. In collaboration with the US International Development Finance Corporation and the Department of Defense, new mineral production initiatives will be financially supported to enhance the nation’s critical resource capabilities.
Source: https://www.bloomberg.com/news/articles/2025-03-20/trump-to-expand-critical-mineral-production-using-wartime-powers