US Energy Department has aligned its efforts with President Donald Trump’s executive order and proposed nearly $1 billion in funding to speed up the development of US critical minerals and materials projects.
"For too long, the United States has relied on foreign actors to supply and process the critical materials that are essential to modern life and our national security," Reuters quotes Energy Secretary Chris Wright as saying.
Funds will be allocated by several offices of the department.
The Office of Manufacturing and Energy Supply Chains intends to offer up to $500 million in funding to expand US critical minerals and materials processing and battery manufacturing and recycling, as well as up to $135 million to support the domestic supply chain for rare earth elements.
The Office of Fossil Energy and Carbon Management also intends to announce about $250 million in financial assistance for plants, including coal facilities, that have the potential to produce mineral by-products from industrial processes.
Other funding includes up to $50 million to support processes in the rare earth magnet supply chain.
Theodor Lisovoy, Managing Editor, Rough&Polished
