President Joe Biden also invoked the Defense Production Act to boost critical minerals output in 2022.
- President Trump signed an executive order to increase production of critical minerals, including uranium, copper, potash, gold and possibly coal.
- The order directs federal agencies to expedite the review of mineral projects and prioritize mineral production over other projects on federal lands.
- Trump will also use the Defense Production Act to increase production.
President Donald Trump on Thursday signed an executive order to increase domestic production of critical minerals, including uranium, copper, potash, gold and possibly coal.
Trump directed federal agencies to compile lists of pending mineral projects and expedite their review in coordination with the National Energy Dominance Council led by Interior Secretary Doug Burgum, a White House official said.
The president also directed Burgum to prioritize critical mineral production on federal lands over other activities, the official said. Burgum can determine whether other minerals, such as coal, are covered by the order, according to the official.
Trump will use the Defense Production Act to increase mineral production, the official said. President Joe Biden also invoked the DPA to boost critical minerals output in 2022.
The United States International Development Finance Corporation will fund new production projects through a dedicated critical minerals allocation in cooperation with the Defense Department, the official said.
The U.S. imported 46% of its copper and 91% of its potash in 2023, according to the U.S. Geological Survey. Potash is a key fertilizer used in agriculture. Nuclear plants in the U.S. imported 99% of the uranium concentrate used to make reactor fuel in 2023, according to the Energy Information Administration.
Source: CNBC
