A Major Mining Industry Roundtable at the State Department
President Donald Trump is set to host a major mining industry round table on Friday. Nearly 200 business leaders, educators, and government officials are set to attend the meeting at the State Department, focused on growing and supporting the U.S. mining industry.
At the round table, the President is set to announce more than $180 million for new initiatives related to workforce development and trade, the White House confirmed. The president will unveil a range of new efforts to help bolster the country’s mining industry, including trade and workforce training programs. The figure was first reported by CBS News.
Where Will the $180 Million Go?
The $180 million figure is made up of two pots of money. The first is $100 million from the Department of Energy, which will create a new grant program to fund scholarships and other workforce development-related initiatives. Universities, community colleges, trade schools, and industry groups will all be eligible to apply.
The second pot of funding will come from the military, with more than $80 million in funding going to three universities: the Colorado School of Mines, the South Dakota School of Mines, and Johns Hopkins University. The initiatives will be devoted to building technological capacity and workforce training in order to grow the next generation of mining workers and secure America’s supply chains in the materials the industry needs.
White House Says Trump Is “Mining’s Biggest Champion”
White House spokeswoman Taylor Rogers told The Epoch Times that “the mining industry has never had a greater champion than President Trump.” His administration’s work in promoting and accelerating the industry’s growth “has led to record levels of investment, expedited permitting, and brought immediate benefits to workers, businesses and communities across the country.” President Trump is the first President in recent memory to make mining a priority, she added.
White House Pushes to Reduce America’s Reliance on China for Minerals
The round table comes as the White House looks to reduce America’s reliance on China for processing and manufacturing rare minerals and metals. China controls the majority of processing facilities for rare minerals and metals around the world, making it a dominant force in the global supply chain. The administration believes that diversifying the supply chain away from China is in the best interests of the national security and economy.
The President has taken similar steps to promote and bolster the domestic mining industry in recent weeks, including recently issuing an executive order imposing a price floor and tariffs on polysilicon in order to counter China’s growing dominance of the global market for the key material.
Who Will Attend the Mining Industry Round Table?
The round table is set to include a number of high-profile attendees, including Cabinet members and business executives from the mining and materials sectors.
Doug Burgum, the Secretary of the Interior, and Marco Rubio, the Secretary of State, are both set to attend, as well as Howard Lutnick, the Commerce Secretary.
In addition, executives from a range of mining and materials companies are set to attend, including Resolution Copper, MP Materials, American Ocean Minerals, Ivanhoe, and Century Aluminum.
Why It Matters
The President’s focus on the mining industry reflects the importance he places on it, both in terms of boosting the economy and national security. Trump’s announcement highlights the administration’s focus on building America’s capacity to meet its own demand for critical minerals and materials. Diverting funding towards workforce development, rather than directly towards incentivizing mining production, suggests the administration is looking to a long-term solution to securing supply chains, rather than a short-term fix. By putting people first, Trump is looking to both create jobs and bolster the domestic economy, as well as secure the materials needed for America’s defense and economy.
What to Know
President Trump will announce more than $180 million in funding for the mining industry at a major industry round table at the State Department on Friday.
$100 million of this will come from the Department of Energy, and will be used to fund a new workforce development scholarship program. This pot of money will be open to universities, community colleges, trade schools, and industry groups.
Meanwhile, more than $80 million in military funds will be used to fund new workforce development programs at the Colorado School of Mines, the South Dakota School of Mines, and Johns Hopkins University.
The funding comes as the White House looks to reduce America’s reliance on China for manufacturing and processing rare minerals and metals. The country has seen a dramatic rise in its need for rare minerals and metals in recent years, and has struggled to meet its needs at home.
The President has taken a number of steps to promote and support the domestic mining industry in recent months, including recently imposing a price floor and tariffs on polysilicon in order to reduce China’s influence on the global market for the key material.
The round table is set to include a number of Cabinet secretaries, as well as a range of business executives from the mining and materials sectors.
This article was written based on The Epoch Times ‘reporting on the President’s plans to announce a major funding package for the mining industry.
