Westwater Resources (WWR) shares closed up 87.7% on Friday, with the bulk of the gain concentrated in the final hour of trading. The surge followed a Reuters report that the company will receive a $25 million loan from the U.S. Export-Import Bank (Ex-Im), part of a broader $58 million funding package across three critical mineral companies tied to the Trump administration's push to reduce reliance on Chinese supply chains.

The loan to WWR is earmarked for its Alabama graphite mine and processing facility. If brought into operation, the project would become the first domestic source of natural graphite in the United States. Graphite is the largest metal by volume used in lithium-ion batteries. Currently, the U.S. produces only synthetic graphite, which is derived from petroleum coke, a byproduct of oil refining. Battery manufacturers typically favor one type over the other depending on the application, making a domestic natural graphite supply strategically significant.

5E Advanced Materials (FEAM) was also named in the Reuters report. The company will receive an $8 million Ex-Im loan to expand boron production at its California facility. Boron, which was added to the U.S. government's critical minerals list last year, is used in nuclear energy, body armor, and other defense applications. The U.S. currently imports most of its boron needs. FEAM's California project is expected to begin commercial production in 2028. Unlike WWR, FEAM shares did not see a comparable price move following the news.

Global Advanced Metals Secures $25M for Tantalum and Niobium Processing

The third recipient is Global Advanced Metals, a private company, which secured a $25 million loan to expand processing of tantalum and niobium at its Pennsylvania facility. Neither mineral is currently mined in the United States. Global Advanced Metals mines both metals in Australia and processes them domestically.

Tantalum is widely used in capacitors for smartphones and automobiles. Niobium serves as an alloying element to harden steel used in pipelines and aircraft.

For investors and manufacturers alike, the loans underscore how critical minerals have become a policy issue as well as an industrial one, since battery materials, defense inputs, and steelmaking additives can all depend on supply chains that are concentrated outside the United States. The financing also highlights that the projects are at different stages of development, with FEAM's California project not expected to begin commercial production until 2028.

Trump Administration's Critical Minerals Push

The funding announcement was timed to coincide with a White House meeting on Friday between President Trump and executives from some of the world's largest mining companies. The meeting was aimed at reinforcing the administration's drive for stronger domestic and allied mineral supply chains.

Ex-Im chairman John Jovanovic said the funding aims to "fortify our supply chains, restore crucial industries that support well-paying American jobs and safeguard everyday Americans from supply shocks."