Trump signed order to dramatically increase minerals and rare earth elements production in US
Photo: Donald Trump, President of the United States (Getty Images)
US President Donald Trump signed an order to dramatically increase the country's production of critical minerals and rare earth metals. He also emphasized the importance of an upcoming rare earth agreement with Ukraine, according to the White House.
According to the American leader, he signed an order to "dramatically increase" the production of "critical" minerals and rare earth metals in the United States.
Trump believes that the United States is now making a "big thing."
The US president stated that it was very important for the country. He added that they were also signing agreements in various locations to unlock rare earths, minerals, and other resources worldwide, with a particular focus on Ukraine.
He noted that the American side is "going pretty well" with both Ukraine and Russia.
"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," Trump said.
He also stated that he had recently spoken with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy, particularly about ending the war.
"We would love to see that (war) come to an end, and I think we're doing pretty well in that regard. So hopefully we’d save thousands of people a week from dying. That's what it's all about. They're dying so unnecessarily, and I believe we'll get it done," Trump concluded.
US to increase critical minerals production
Previously, US President Donald Trump had announced plans to significantly increase the production and extraction of critical minerals and rare earth elements in the United States. He made these remarks during a speech in Congress on March 5.
According to Trump, the extraction of critical minerals within the country would be "dramatically increased."
During his address to Congress, the US president mentioned that later in the week, he planned to take historic action aimed at significantly expanding the extraction of the most essential minerals and rare earth elements within the United States.
Issue on signing the US-Ukraine minerals deal
According to previous reports, the framework agreement between Ukraine and the United States envisions the creation of an investment fund under the joint management of both countries. Under the agreement, Ukraine is expected to contribute 50% of its revenue from mineral sales to the fund.
It is estimated that Ukraine holds around 5% of the world's total rare earth element reserves. In comparison, the United States, which is about 12 times larger in land area, possesses only 1-2% of the global rare earth reserves.
On March 4, Reuters reported that Ukraine and the US were allegedly set to sign an agreement on profit-sharing from mineral extraction within hours. The agency suggested that Trump might announce this during his address to Congress.
Meanwhile, Fox News stated that the White House denied media reports about an imminent mineral agreement with Ukraine.
Additionally, CBS News previously reported that the agreement between Washington and Kyiv on US access to Ukraine’s mineral resources had not yet been finalized and that Trump intended to revise the document.
However, recent developments indicate that Kyiv and Washington are set to sign the rare earth agreement after all.
