A cobalt mining site operated by Jervois Global near Salmon, Idaho. ReutersShow caption: A cobalt mining site operated by Jervois Global near Salmon,…Latest awards come as Trump seeks to make US 'minerals superpower of the world'The US Energy Department announced on Thursday that it is backing seven critical minerals companies with $500 million in grants, the latest in a series of investments as President Donald Trump's administration looks to strengthen the country's domestic supply chain.The latest awards will go to firms that are building lithium, cobalt and other minerals projects to support battery materials processing, recycling and manufacturing.“For too long, America has depended on foreign actors for critical materials essential to modern life that underpin our economy, energy security, and national security,” Energy Secretary Chris Wright said.Utah's Lilac Solutions will receive $100 million to build and operate a lithium extraction and refining facility on the Great Salt Lake, which the company expects to produce 5,000 metric tonnes per year when it opens in 2028. The Energy Department also awarded $100 million to Jervois to build a cobalt refinery. The metal is used to produce weapons, batteries and electronics.In addition, it is providing $100 million to Nth Cycle to process black mass, a battery-metal scrap, which Mr Trump's administration blocked from being exported earlier this month. Another $50 million will go to Princeton NuEnergy to rejuvenate battery-grade cathode materials; Arcanum Venture to produce battery-grade ethylene carbonate; Elevated Materials to produce materials to support fast-charging batteries; and Coreshell Technologies for a project to create a US gigafactory dedicated to silicon-anode battery production.The awards come two days after the department's critical minerals and energy innovation agency announced a combined $162 million in funding to recover scandium, copper, antimony, rare earth elements and other materials.The latest awards are part of a push by Mr Trump's administration to encourage the private sector to invest in critical mineral projects, which the White House frames as crucial to energy and national security. The administration has also taken equity stakes in critical minerals companies while engaging in diplomatic pathways such as the Pax Silica initiative and the Forum on Resource Geostrategic Engagement.Mr Trump's administration has been enlisting the private sector to invest in critical minerals and rare earths in response to heavy export restrictions from China, which holds significant leverage in the global supply chain.Earlier this month, he announced a series of mining projects valued at $3 billion, investing in scandium, copper, graphite, tantalum and other materials used to process advanced technologies and defence systems.“We're putting our miners back to work, and we're reclaiming America's rightful place as the minerals superpower of the world,” he said during a mining round-table at the State Department on August 7.Updated: August 20, 2026, 5:05 PM