The United States plans to invest US$250 million to build an investment alliance in energy and key minerals

On March 24, a Trump administration official said the United States plans to contribute $250 million to an investment group that will fund energy and key mineral supply chain projects. Jacob Helberg, the U.S. State Department's Under Secretary of State for Economic Affairs, said Monday that the United States will manage the money and seek to secure up to $1 trillion in commitments from sovereign wealth funds and institutional investors. He said other participants will include SoftBank Group, Temasek Holdings and Abu Dhabi based Mubadala Investment Company Wealth Fund. Helberg said the group's top investment focus was ensuring access to energy and rare earths for the United States and its allies, especially in "mineral security, logistics and possibly energy security infrastructure." He said the United States and these institutional investors would review the project list.