President Donald Trump has announced a significant push to increase domestic mineral production in the United States by utilizing the Defense Production Act. In a move aimed at reducing the nation's dependency on foreign imports, Trump has directed federal agencies to compile lists of pending mineral projects and expedite their reviews in collaboration with the National Energy Dominance Council. This strategic effort is part of an executive order signed by Trump to bolster the production of critical minerals, including uranium, copper, potash, gold, and potentially coal.
The executive order seeks to address the alarming levels of mineral imports that the U.S. has relied on in recent years. In 2023, the country imported 99% of its uranium concentrate used for reactor fuel, 46% of its copper, and 91% of its potash. By tapping into domestic resources, Trump's administration aims to enhance national security and energy independence.
Interior Secretary Doug Burgum, who leads the National Energy Dominance Council, has been tasked with prioritizing critical mineral production on federal lands. Burgum will play a crucial role in determining the inclusion of other minerals, such as coal, under the scope of Trump's order.
The United States International Development Finance Corporation will provide funding for new production projects, working in conjunction with the Defense Department. Through these collaborative efforts, the administration aims to boost the domestic output of critical minerals using the authority granted by the Defense Production Act.
This initiative follows a similar measure taken by President Joe Biden in 2022, who also invoked the Defense Production Act to enhance critical minerals output. The bipartisan acknowledgment of the importance of domestic mineral production underscores its significance in fostering economic growth and national security.