President Donald Trump received a unique gift during a roundtable event at the State Department on Friday, where he announced a $100 million investment into U.S. mining universities. Tom Albanese, Chairman of American Ocean Minerals, presented Trump with a gold replica of a deep-sea nodule, a naturally occurring formation rich in rare metals.
Upon seeing the golden sphere, Trump's eyes widened, and he expressed a desire to examine it more closely. "Where's the gold? I want the gold. Would you send it to me? Let me see what it looks like," he said. After being passed along the table, the artifact reached the President, who noted its weight. "It is. It is heavy! That's fantastic," Trump remarked, shaking the ball.
The event and the administration's focus on domestic mining align with the goal of achieving U.S. mineral independence. China currently dominates the global market for rare earth metals, controlling approximately 70 percent of mining and 90 percent of refining. These materials are critical for various technologies, including military equipment, automobiles, and medical devices.
"Critical minerals are the raw materials of American strength that power everything from advanced weaponry to automobiles, and we want these essential products to be mined, refined, and made right here in the USA with the American skill and American hands," Trump stated at the event. He also claimed that the U.S. is opening mines at the fastest pace in 70 years.
The $100 million investment announced is intended to train the next generation of American miners, a response to requests from universities seeking $10 million annually for funding. Attendees at the roundtable included Secretary of State Marco Rubio, Secretary of Commerce Howard Lutnick, and Interior Secretary Doug Burgum, who provided updates on departmental efforts to promote domestic mining. During the event, Rubio made a jest about Trump taking items from the State Department, to which Trump playfully responded by admiring the chandeliers.