President Donald Trump has signed an executive order that aims to boost US production of a range of critical minerals, reducing reliance on foreign suppliers like China, Iran and Russia amid escalating trade conflicts.
The order will unlock US critical mineral capacity by streamlining the permitting process, emphasizing collaboration between the public and private sectors, and increasing government funding through the Defense Production Act.
Under the new order, agencies will compile a list of all pending mineral production projects that have submitted operational plans or permit applications to expedite their review.
The National Energy Dominance Council will oversee this effort, with additional projects being considered for FAST-41 status, which accelerates permitting timelines.
The order also directs the Secretary of the Interior to prioritize mineral production on Federal lands with critical mineral deposits, while the Secretaries of Defense, Energy, and Agriculture will identify new sites suitable for expedited permitting.
To further boost production, the Defense Production Act will be utilized to expand domestic mineral production capacity, and a dedicated critical minerals fund will be established through the United States International Development Finance Corporation in partnership with the Department of Defense. This fund will provide financing, loans, and investment support for new mineral projects.