Signal DOE launches $100M PROSPECT workforce initiative as EXIM announces $58M in critical mineral loans

Summary

The US Department of Energy announced a Notice of Intent on August 7 2026 to fund up to 100 million dollars for the PROSPECT initiative, aimed at building the critical minerals workforce. The initiative seeks to double the number of graduates with mining and minerals related degrees within two years. DOE estimated that roughly 6000 new mining engineers will be needed over the next decade. On the same day, at a White House Critical Minerals Roundtable, the Export Import Bank of the United States announced 58 million dollars in loans across three projects. The recipients were Westwater Resources in Alabama for graphite at 25 million dollars, Global Advanced Metals in Pennsylvania for tantalum and niobium at 25 million dollars, and 5E Advanced Materials in California for boron at 8 million dollars. Both announcements form part of the administration's effort to reduce US dependence on Chinese critical minerals supply chains.