Key Takeaways
- The U.S. President Donald Trump signed an executive order to enhance domestic production of critical minerals and rare earths.
- The executive order aims to boost the production of critical minerals and rare earths through the Defense Production Act.
- The U.S. government will provide financing, loans, and other investment support for domestic mineral processing to increase the country’s mineral production.
Washington: U.S. President Donald Trump announced on Thursday that he had signed an executive order to enhance domestic production of critical minerals and rare earths.
“The United States was once the world’s largest producer of lucrative minerals, but overbearing federal regulation has eroded our nation’s mineral production,” Trump said in the order.
The order leverages the Defense Production Act (DPA) to provide financing, loans and other investment support for domestic mineral processing.
It also directs federal agencies to identify mines that can be quickly approved and federal lands, including those controlled by the Pentagon, that could be used for minerals processing.
