WASHINGTON — President Donald Trump on Friday announced approximately $3 billion in investments and financing for critical minerals projects, aiming to expand domestic supply chains, create jobs and reduce U.S. dependence on foreign sources.

Speaking at a meeting with mining executives at the U.S. Department of State, Trump said the projects are expected to create thousands of jobs while strengthening the nation’s economic and national security.

Major initiatives include:

- A $1.4 billion loan from the Department of Defense’s Office of Strategic Capital to battery materials company Sila Nanotechnologies.
- A $400 million Pentagon investment to expand production of scandium in Australia, a material used in the aerospace and defense industries.
- A $150 million investment in Minnesota-based rare-earth magnet producer Niron Magnetics.
- More than $1 billion in proposed Export-Import Bank financing for Ivanhoe Electric’s Santa Cruz copper project in Arizona.
- A $25 million investment to launch a graphite mining project in Alabama.

The administration also plans to invest more than $180 million in mining education and workforce development.

Trump said the initiatives are intended to rebuild U.S. mining capacity, secure supplies of critical materials and reduce reliance on countries viewed as strategic adversaries.