The Trump administration, to its credit, is prioritizing the development of mining and critical minerals to protect U.S. economic and defense interests and secure a reliable domestic supply.
At the center of this effort is President Trump’s recent executive order “Immediate Measures to Increase American Mineral Production.” The Federal Permitting Improvement Steering Council, now known as the Permitting Council, spearheads these administration efforts.
America needs to get real about sourcing its domestic critical mineral supply and supporting reliable mining partners in their operations abroad.
Thankfully, it’s now increasing “transparency, accountability, and predictability for the permitting review process for … critical mineral production projects.”
Abroad, the administration is also pursuing strategic deals, particularly by supporting mining operators in the Democratic Republic of the Congo. A newly signed minerals agreement between the Congo and Rwanda — brokered as part of the U.S.-backed peace treaty — marks “a success for Trump against the backdrop of U.S.-China competition over critical minerals.”
With all this activity in the global mining sector, it’s essential that the U.S. government adhere to the following principle: Support and partner with real — and reliable — mining operators.
America can’t afford to gamble with startups backed by tech billionaires with no mining experience nor mining companies that are backed by China. We need to be realistic about supporting the mineral needs of “USA Inc.” Moreover, policymakers must not fall for the slick PR and flashy AI claims currently inundating the industry.
It’s time to stop the madness.
Flashy ‘mining’ startups
So who are the culprits driving this frenzy? The first is KoBold Metals, a California-based startup backed by Bill Gates, Jeff Bezos, and Michael Bloomberg. The company’s trio of green activist billionaire backers should raise significant concerns within the administration. Gates, for instance, was in Singapore recently touting the ill-advised return of support for “climate reform.”
A deeper problem lies in KoBold’s misleading image. The company calls itself a mining firm, but it has never run a mine.
Its strength lies in artificial intelligence and data harvesting, not excavation, logistics, or engineering. KoBold claims to lead “the world’s largest exploration R&D effort” using AI and novel hardware. The language sounds impressive. The reality is far less so.
KoBold lacks the infrastructure, operational know-how, and supply chain muscle needed for serious mineral exploration and production. At its core, it’s an AI platform masquerading as a mining company.
Even more troubling, the administration appears to be assisting KoBold in advancing a lithium mine in the DRC. According to Bloomberg, the announcement came after the DRC’s President Felix Tshisekedi met with Massad Boulos, Trump’s senior adviser for African affairs, to discuss potential American investment and security assistance in the DRC’s fight against a rebel group in the east, which is backed by neighboring Rwanda.
I am confident Boulos, who also happens to be the father-in-law of President Trump’s youngest daughter, will soon come around and realize what’s real and what’s not.
Lining China’s pockets
Given the stakes, the administration must weigh reliability when deciding which mining companies to back. Rio Tinto doesn’t make the cut.
Yes, Rio Tinto is a real mining company. It’s been around since 1873 and operates on a global scale. But it doesn’t serve U.S. interests.
The Aluminum Corporation of China Ltd., or Chinalco, holds a 14.56% stake in Rio Tinto. Chinalco is a Chinese state-owned enterprise. That makes Beijing the company’s largest shareholder — and that alone should disqualify Rio Tinto as a potential partner.
Propping up Rio Tinto would only tighten China’s grip on the world’s critical minerals supply — at America’s expense. As international policy and trade analyst Dewardric McNeal recently wrote:
The United States must now treat critical minerals not as commodities but as instruments of geopolitical power. China already does. Escaping its grip will require more than mine permits and short-term funding. It demands a coherent, long-term strategy to build a complete supply chain that includes not only domestic capabilities but also reliable allies and partners.
Exactly right. The U.S. needs a strategic, grounded approach — not one riddled with internal contradictions.
America needs to get real about sourcing its domestic critical mineral supply and supporting reliable mining partners in their operations abroad. The clock is ticking, and neither flashy startups nor Chinese-backed companies are the keys to solving this puzzle.
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