It’s Time We Helped Americans Mine Again

Ownership, Not Just Production, Determines U.S. Mineral Independence

By Taylor Sulik

With the inauguration of President Donald Trump in January of 2025, and the emergence of economic nationalist and protectionist policies, the United States has seen a resurgence of interest in the mining industry, specifically with rare earths and critical minerals. The focus of this administration so far has been to reshore the production of items vital to our national security and economy. To facilitate this objective, there have been multiple lines of effort put forth by the Trump Administration, ranging from creating a Mining Czar position, creating a National Energy Dominance Council, and even the direct equity ownership stake taken by the government in multiple critical mineral companies – such as MP Materials, America’s leading producer of rare earths and the associated magnets.

While these steps in the direction of Making America Mine Again have been a net positive, the majority of ownership and control over critical mineral deposits in the United States remains in the hands of foreign owned/listed corporations, primarily junior exploration companies, which are often headquartered in the likes of the United Kingdom, Canada, and Australia. Just because a mine is in Nevada, Utah, or Arizona, does not automatically mean that the decisions on what to do with mine output are made locally, or even within the United States. If public funding is being used to rebuild critical mineral supply chains, then American owned companies, not foreign shareholders, should be leading the charge.

When tax dollars are deployed, they should come with expectations beyond just production metrics. If the government was to underwrite early-stage exploration and infrastructure development, then that decision should also be used to underwrite American ownership, governance, and long-term decision-making authority, otherwise the United States risks recreating an imbalance: public risk paired with foreign reward.

We’ve learned the hard way what happens when we outsource the means of production. Take for example the supply chain crisis experienced during and post-COVID, where necessary items such as pharmaceutical products, baby formula, or even toilet paper were subject to shortages. The same is true with critical minerals. Not only is a secure critical mineral supply chain a national security issue, but lack of minerals can impact our daily life. These minerals are vital to our power grids, electric vehicles, defense systems, and the manufacturing ecosystem. The average smart phone has over 30 minerals, many of which are critical minerals that are solely dominated by China. We talk about reindustrialization across the United States, but in order to incubate an advanced manufacturing industry, we need to be able to manufacture basic items, and to do that, we need to secure the base elements that are integral to this vision.

Currently, China dominates the critical mineral output and processing industry. China is the leading producing country for 30 of the listed critical minerals, which means the United States has a net import reliance of over 50% on minerals from China on minerals such as Yttrium, Bismuth, Rare Earths, Antimony, and Arsenic. Americans aren’t ok with this: a recent survey by the National Mining Association found that approximately 70% of Americans want the U.S. to boost domestic minerals production to reduce our reliance on China. The United States does not lack critical mineral deposits, nor does it lack workers or capital. What it does lack is Americans getting involved and building these deposits from the ground up. If the American taxpayers are going to continue footing the bill, then American owned and operated companies should be in the driver’s seat. We need more Americans focused on identifying, developing, and building mines as opposed to building technology or selling their deposits.

Take, for example, the major Tungsten projects located across the United States. The four largest companies involved are all foreign owned. Although the U.S. welcomes foreign investment and many foreign companies do operate responsibly, it is unclear who decides where these materials go during war, a trade dispute, or shortages, as investment in these companies does not equal control and their location does not equal ownership. We will never be able to rebuild American critical mineral independence on quarterly exit strategies. Foreign shareholders’ obligations, incentives, and loyalties may not align with long-term U.S. interests.

Much of the last two decades in the mining industry have been focused on the financialization of deposits as opposed to being developmentally-oriented. Far too often, American projects are viewed as speculative assets as opposed to strategic assets. Projects are bundled together, promoted, and sold long before they are brought into production. This mindset prioritizes shareholder value as opposed to long-term strategic victories.

Mining is also not embedded into the American consciousness as it is for Canadians and Australians. If the United States is serious about rebuilding this industrial capacity, then those Americans who are willing to take the risk on developing a mine should be rewarded, rather than those who market assets to the highest foreign bidder.

But American mining will not just secure our domestic mineral needs. Through mining, we can drive economic growth and job creation while supporting sustainability and environmental standards. Domestic production and ownership ensure that economic benefits stay within our borders, fostering innovation, infrastructure development, and opportunities for communities within mining regions. It also allows for the U.S. to adhere to some of the highest environmental and labor standards in the world, ensuring that extraction and processing minimize harm to both the environment and workers.

Ownership of these deposits should be front and center. As there has been justified concern over China purchasing land directly adjacent to military bases across the United States, there needs to be clear disclosure of beneficial ownership and established foreign control thresholds for any group looking to receive government funding or financing. We, as taxpayers, should be able to see who benefits from our support. Ownership is not a technical detail or a check in a box on an application.

This does not require exclusionary policies or blanket bans on foreign participation – it requires clarity. Preference should be given to companies that commit to domestic processing, reinvestment, and workforce development. Transparency around beneficial ownership should not be non-negotiable, particularly when public funds and our national security are at stake. Mining is one industry among many in which America can reassert itself as a nation of producers and innovators – if our policy rises to meet the moment.

Taylor Sulik is the President & CEO at Mithril Mining Corp. You can follow him on X @TheTungstenGuy.