Trump to host mining CEOs as administration seeks minerals for defense supply chains

Energy Fuels

07/08/2026 11:00

Trump to meet mining CEOs as US pushes critical minerals agenda
Iran war raises concerns over weapons stockpiles and supply chains
Administration seeks billions in investment and a domestic mining workforce
By Jarrett Renshaw and Ernest Scheyder
WASHINGTON, Aug 7 (Reuters) - U.S. President Donald Trump will convene executives from some of the world's largest mining companies at the State Department on Friday as his administration intensifies efforts to secure domestic and allied supplies of critical minerals, a cornerstone of its national security and industrial policy.
The White House needs critical minerals to replenish weapons stockpiles depleted during the Iran conflict and reduce U.S. dependence on Chinese supply chains. 
U.S. forces have burned through large numbers of precision-guided missiles and air-defense interceptors during the five-month-long Iran war. Defense officials and lawmakers have warned that replenishing some inventories could take years given existing production constraints, even as the Trump administration has disputed reports of significant shortages. 
Supplies of minerals including rare earths, tungsten, germanium and scandium are essential for manufacturing precision-guided missiles, fighter aircraft, armored vehicles, infrared sensors and other advanced weapons systems, according to Pentagon officials and defense companies.
The White House frequently uses roundtable events to showcase support from corporate executives, surrounding Trump with industry leaders who praise his policies and highlight the administration’s economic priorities. The format allows companies to publicly endorse White House initiatives while giving Trump a platform to emphasize his efforts to boost investment, manufacturing and U.S. competitiveness.
     Industry heavyweights including Rio Tinto Group, BHP Group  BHP.AX and Freeport-McMoRan Inc FCX.N, along with MP Materials Corp MP.N, USA Rare Earth Inc USAR.O, Energy Fuels Inc and The Metals Company TMC.O, are expected to attend. 
The administration plans to announce a handful of deals and memorandums of understanding, according to a person familiar with the planning of the event. 
It is also seeking to address a shortage of engineers, geologists, miners and technicians needed to expand the domestic mining industry. 
Earlier on Friday, the Department of Energy is expected to host representatives from all 14 accredited U.S. mining schools to promote mining careers and encourage more students to enter the field.
Officials have pointed to China's extensive network of mining universities as a key advantage in its dominance of global mineral production.
Since returning to office, Trump has launched a $12 billion strategic minerals stockpile, backed equity investments in companies developing U.S. mines and processing facilities, and sought to limit defense contractors from relying on supplies from China. 
The administration says government support is needed to counter decades of Chinese investment that left Beijing dominant in the mining and processing of many strategic minerals.

     

 (Reporting By Jarrett Renshaw; Editing by Colleen Jenkins and Nia Williams)
 ((jarrett.renshaw@thomsonreuters.com; (646) 223-6193;))