(Reuters) -The Trump administration is ramping up its efforts to secure U.S. supply chains for critical minerals and semiconductors by converting federal grants into equity stakes in key companies.
The move marks a shift from traditional subsidies to direct ownership, aimed at reducing reliance on China for materials vital to electric vehicles, defense systems and advanced computing.
The administration has taken or discussed stakes in several companies across the mining and tech sectors, signalling a more aggressive industrial policy.
Following are the companies linked to the Trump administration’s strategic investment push:
** Critical Metals
Stake under discussion: About 8%
Project: Tanbreez rare earths deposit, Greenland
Strategic value: Trump administration officials have discussed taking a stake in Critical Metals, four people familiar with the discussions told Reuters, which would give Washington a direct interest in the largest rare earths project in Greenland, the Arctic territory that President Donald Trump once suggested buying.
** Lithium Americas
Stake acquired: 5% in parent company and 5% in Thacker Pass JV with General Motors
Project: Thacker Pass lithium mine, Nevada
Strategic value: The Thacker Pass project is seen as a linchpin in building a domestic supply chain part of Washington’s long-standing drive to boost U.S. production of lithium, a metal used to make batteries for electric vehicles and other electronics.
** MP Materials
Stake acquired: About 15%
Project: Mountain Pass rare earth mine, California
Strategic value: MP operates the only U.S. rare earths mine and is working to boost domestic processing and magnet production. The U.S. Department of Defense (DoD) will become the largest shareholder in Las Vegas-based MP, making it Washington’s most high-profile investment to date in the critical minerals sector.
** USA Rare Earth
Status: In discussions
Details: Barbara Humpton, CEO of the company, told CNBC that it was in close talks with the White House while responding to a question about its potential interest in striking a deal with the Trump administration.
Strategic value: USA Rare Earth has been developing a mine in Sierra Blanca, Texas and a neo magnet manufacturing facility in Stillwater, Oklahoma, which is expected to go commercial in the first half of 2026
** Intel Corp
Stake acquired: 9.9%
Strategic value: The investment strengthens U.S. supply chain security and supports Intel’s plans to build and expand advanced manufacturing facilities domestically.
(Reporting by Arunima Kumar in Bengaluru; Editing by Anil D’Silva)
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