00:00The Trump administration plans to allocate nearly 1 billion U.S. dollars to boost U.S. production of critical minerals and materials.
00:09According to the Energy Department, these resources are used in everything, from electric vehicle batteries to semiconductors.
00:17The funding aims to advance mining, processing and manufacturing technologies in supply chains long dominated by China and other countries.
00:26The Energy Secretary, Chris Wright, said that the U.S. has relied too heavily on foreign actors for essential critical materials.
00:34The plan aligns with U.S. President Donald Trump's executive order on maximizing energy development.
00:41The Energy Department will allocate 500 million U.S. dollars for processing, battery production and recycling, plus 135 million U.S. dollars for rare earth recovery.
00:52It will also provide 250 million U.S. dollars for plants producing mineral byproducts and 50 million U.S. dollars for refining specialized semiconductor materials.
Comments