Trump will host mining CEOs to discuss the administration's desire for minerals in defense supply chains
?U.S. Donald Trump, the president of the United States, will meet with executives of?some?of the largest mining companies in the world at the State Department this Friday. His administration is intensifying efforts to secure supplies of vital minerals for the domestic market and allies. This is a cornerstone of his national security and industrial policies. The White House is in need of critical minerals to replenish weapon stockpiles that were depleted by the Iran conflict, and reduce U.S. dependency on Chinese supply chains. U.S. forces used up a large number of precision-guided air-defense missiles and interceptors during the five-month long Iran war. Defense officials and legislators have warned that replenishing certain inventories could take many years due to production constraints.
Pentagon officials and defense firms say that minerals such as rare earths and tungsten are vital for the manufacture of precision-guided weapons, fighter aircraft, armored cars, infrared sensor and other advanced weapon systems.
Roundtable events are often used by the White House to demonstrate corporate support. They surround Trump with business leaders who praise Trump's policies and emphasize his administration's economic goals. This format allows corporations to publicly 'endorse' White House initiatives, while also giving Trump an opportunity to highlight his efforts to boost U.S. manufacturing and competitiveness.
A White House official confirmed that the gathering would include 200 executives and top administration officials. A White House official said that the executives attending the roundtable include Vickey Peacey (President of Resolution Copper), which is controlled Rio Tinto and BHP, Jim Litinsky (CEO of rare earths producer MP Materials), Tom Albanese (Chairman of deep-sea miner American Ocean Minerals), Robert Friedland (Chairman of copper miner Ivanhoe Mines) and Jesse Gary?, CEO Century Aluminum which is building an Oklahoma smelter.
Officials said that the gathering will include other top administration officials including Interior Secretary Doug Burgum and Secretary of State Marco Rubio. Commerce Secretary Howard Lutnick, National Security official David Copley and Secretary of State, Marco?Rubio.
The administration also seeks to?address a?deficit?of geologists, engineers, miners, and technicians required to expand the domestic mine industry.
The Department of Energy will host representatives of all 14 accredited U.S. Mining Schools to "promote mining careers" and encourage more students into the field. Officials said that the agency would announce $180 in grants to boost educational programs. The extensive network of Chinese mining universities has been cited by officials as one of the key advantages in China's dominance of mineral production.
Since assuming office, Trump launched a?$12 billion strategic mineral stockpile and backed equity investment in companies that are developing?U.S. Since returning to office, Trump has launched a $12 billion strategic minerals stockpile and backed equity investments in companies developing?U.S.
The administration claims that government support is necessary to counter decades-long Chinese investment, which has left Beijing dominant in mining and processing many strategic minerals.
(source: Reuters)
