DOE Unveils Fresh $1 Billion Funding To Boost US Critical Minerals

The U.S. Department of Energy will issue nearly $1 billion in funding to scale mining, processing, and manufacturing technologies for critical minerals, according to Benzinga. The plan stems from Trump’s Unleashing American Energy order to bolster domestic supply chains critical to energy, defense, and industrial competitiveness. Up to $50 million will support rare-earth magnet supply chains and advanced materials refinement, while $250 million will fund pilot recovery of minerals from industrial processes. Another $135 million will back rare earth refining and recovery from waste streams, and $500 million will support battery materials processing and recycling. The effort builds on Trump’s 2020 Energy Act, which laid the foundation for federal critical minerals support. MP Materials closed Wednesday up 0.60%, and has surged 360% year-to-date.