In 2025, the Trump administration significantly advanced efforts to secure domestic supplies of critical minerals essential for national security. The US Geological Survey added 10 new items to the list, while federal investments poured into mining projects across the country. This push includes equity stakes in private companies and international deals, amid concerns over environmental and indigenous rights.
The year 2025 marked a notable expansion in US policy on critical minerals under President Donald Trump. Established in 2018, the critical minerals list identifies materials vital to economic and national security with vulnerable supply chains. Benefits for listed minerals include expedited permitting, tax incentives, and federal funding. In November, the US Geological Survey increased the list from 50 to 60 items, incorporating copper, silver, uranium, and metallurgical coal.
A key development occurred when South Korean firm Korea Zinc announced a $7.4 billion zinc refinery in Tennessee, with the Department of Defense taking a stake. This fits into broader administration strategies. In March, Trump issued an executive order to boost domestic production, stating, “It is imperative for our national security that the United States take immediate action to facilitate domestic mineral production to the maximum possible extent.” The administration has pursued international agreements, such as one with the Democratic Republic of Congo, which supplies over 70 percent of global cobalt.
Federal actions also involve reducing regulatory hurdles and investing directly in companies. Over $1 billion in public funds secured minority stakes in firms like MP Minerals, ReElement Technologies, and Vulcan Elements. In Alaska, $35 million bought a 10 percent share in Trilogy Metals for a copper and cobalt project. In September, the administration restructured a $2.23 billion loan to Lithium Americas for the Thacker Pass lithium mine in Nevada, gaining 5 percent stakes in both the project and company, despite tribal nations' allegations of rights violations, which the company denies.
Trump's approach contrasts with historical precedents, like equity stakes during the 2008 crisis for struggling firms. Beia Spiller of Resources for the Future noted, “Whether that’s going to work, I think is unlikely. The best way to get an industry up and running is to have policies that raise the tide for everyone, not just choosing winners.” Allocations under the “One Big Beautiful Bill Act” include $7.5 billion for critical minerals, with $2 billion for the defense stockpile and $5 billion for Department of Defense supply chain investments. The focus leans toward military applications rather than clean energy transitions.
Challenges persist, including tariff impacts, cuts to training programs, and opposition to proposed seabed mining near US territories, which has drawn global criticism from indigenous groups. Plans for additional equity stakes in 2026 may extend to deep-sea operations, raising further risks.
