The administration will soon sign a rare earth mineral deal with Ukraine, the president said.
President Donald Trump signed an executive order on March 20 to boost the mining and production of critical minerals in the United States, including uranium, copper, potash, and gold.
Once the list is submitted, the agency head will isolate priority projects that can receive fast-track approval and take all necessary steps to expedite permit issuing.
The National Energy Dominance Council chair will then consult with the department leaders 15 days after the order’s signing date to submit a list of mineral production projects to the executive director of the Permitting Council that can be scheduled for expedited review.
Additionally, within 30 days of the order, the chair and the director of the Office of Legislative Affairs are ordered to prepare and submit recommendations to Trump and Congress to “clarify the treatment of waste rock, tailings, and mine waste disposal under the Mining Act of 1872.”
During a signing ceremony at the White House on March 20, Trump said the order will “dramatically increase production of critical minerals and rare earths” in the United States.
“It’s a big thing in this country,” Trump said. “We’re also signing agreements in various locations to unlock rare earths and minerals and lots of other things all over the world.”
As part of negotiations to end the war between Russia and Ukraine, the Trump administration had proposed trading continued military support for Ukraine in exchange for access to its rare earth minerals.
The White House said the deal was off the table after Trump and Ukraine’s President Volodymyr Zelenskyy clashed in the White House late last month, but Trump said on Thursday he would be signing the deal soon.
“We’re doing very well with regard to Ukraine and Russia. And one of the things we are doing is signing a deal very shortly with respect to rare earths with Ukraine,” he said. “They have tremendous value in rare earth.”
Both Zelenskyy and Russian President Vladimir Putin tentatively agreed to a cease-fire agreement this week after calls with Trump.
The agreement would see both sides refrain from attacking each other’s energy infrastructure for 30 days.
However, both Ukraine and Russia have alleged strikes from one another since the talks took place.
Trump mentioned the discussions on March 20 and seemed hopeful they would lead to a tentative cease-fire.
“We spoke yesterday with, as you know, President Putin and President Zelenskyy, and we would love to see that come to an end, and I think we’re doing pretty well in that regard,” he said.
He said he had no objections to a deal between America and Ukraine.
“We, by the way, would be ready to offer [joint projects with] our American partners,” Putin said to state-owned media VGTRK.
“And when I say ‘partners,’ I mean not only administrative and governmental structures but also companies if they showed interest in joint work.”
There are also reports that the Trump administration may look toward another nation to sign a possible rare earth mineral agreement: the Democratic Republic of the Congo.
Félix Tshisekedi, president of the war-torn African nation, sent a Feb. 8 letter to Trump offering mining opportunities for the U.S. Sovereign Wealth Fund in exchange for a “formal security pact” to help his army defeat a Rwandan-backed rebel group that has seized key cities in the Congo.
A State Department spokesperson said last week that the Congo holds a “significant share of the world’s critical minerals required for advanced technologies.”
Rare earth minerals are crucial components used in a vast array of modern technologies, including smartphones, electric vehicles, and medical equipment.
They’re also important ingredients for glass, lights, magnets, batteries, and vehicle catalytic converters.
For instance, the magnets for one wind turbine require roughly 300 kilograms of neodymium, which is also used in lasers and hard disc drives.
Tom Ozimek and Reuters contributed to this report.
