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US miners and battery recyclers are rushing to secure government loans worth billions of dollars before January due to concerns that former President Donald Trump, if reelected, might block funding crucial for boosting American output of critical minerals for energy transition. This urgency is fueled by Trump's pledge to end the electric vehicle mandate and plans to shutter the Department of Energy's Loan Programs Office (LPO), as outlined in the Project 2025 document. The Biden administration is considering price support for US critical minerals amid pressure from China, which has a significant hold on the global supply of these resources. The administration's efforts aim to counter delays and cancellations of US minerals processing projects and reduce reliance on foreign adversaries. The situation underscores the geopolitical tensions surrounding the supply of critical minerals necessary for the energy transition, with concerns over industrial freedom and China's near monopoly.
