President-elect Donald Trump should tap a new “minerals czar” in the White House, redirect unused Inflation Reduction Act dollars to support new mineral projects and streamline permitting for all new mines on federal land to counter China, according to a new report.
Pro-domestic energy nonprofit SAFE offered up a raft of recommendations for the incoming Trump administration and Congress to build up critical mineral supply chains that Chinese-backed companies have come to control. SAFE crafted the report over the past year with input from experts including private equity firms. The findings will inform SAFE’s ongoing work through 2027 with the State Department.
“Policy leaders and investors are looking at the critical minerals financing gap and working to address this challenge, but they have different views on markets, obstacles, and solutions,” said Abigail Hunter, SAFE’s executive director. “This report helps translate the issue for both sides and offers policy recommendations to bridge existing support mechanisms and strategic opportunities in the minerals space.”
Authors of the report said the Biden administration during the past four years put the focus on minerals tied to batteries, while leaving “policy gaps” for materials needed for advanced computing, artificial intelligence and military applications. Investments tied to Biden’s signature climate law, the Inflation Reduction Act, also offered less support for upstream projects like mining and processing that have long lead times, according to the paper.
