Fact Check: Did Trump-linked firms receive $9B in US critical minerals deals?

WASHINGTON, DC: A viral X post claimed that companies with financial ties to President Donald Trump and Commerce Secretary Howard Lutnick's families received nearly $9 billion in US government critical minerals deals.

The claim cited a New York Times investigation and sparked debate over possible conflicts of interest and the awarding of government contracts. But did Trump-linked firms actually receive $9 billion in critical minerals deals? Here's the fact check

Claim: Trump-linked firms received $9B in US critical minerals deals

An X post by @Coste1Costello features a bold graphic highlighting a New York Times investigation into nearly $9 billion in US government critical minerals deals awarded to 14 companies with financial ties to the families of President Donald Trump and Commerce Secretary Howard Lutnick.

According to the investigation, several of the deals involve a major tungsten mining project in Kazakhstan.

Companies linked to Donald Trump Jr, Eric Trump, and the sons of Howard Lutnick reportedly received ownership stakes, underwriting roles, and millions of dollars in fees while the US government approved financing of up to $1.6 billion for the project. 

The post also quoted economist Scott Lincicome and presented the information in a meme-style format, helping it gain significant engagement on social media.

It framed the investigation as evidence that taxpayer-backed funding benefited companies connected to the Trump and Lutnick families through projects involving critical minerals used in the defense and technology industries.

Fact Check: False, no evidence to back the viral claim

The claim that Trump-linked firms received $9 billion in US critical minerals deals is misleading.

While the US government has supported several major critical minerals initiatives, the $9 billion figure combines multiple separate projects and corporate agreements rather than representing a single federal payment to businesses owned by the Trump family.

The figure primarily comes from different transactions involving strategic minerals. One involves a large mining investment in the Democratic Republic of the Congo (DRC) between Glencore and Orion Resources. Although the project aligns with US efforts to strengthen critical mineral supply chains, the US government did not directly provide a $9 billion payment for the venture.

Another project involves a proposed $1.6 billion in federal financing for a tungsten mining operation in Kazakhstan.

According to reports, companies linked to Donald Trump Jr and Commerce Secretary Howard Lutnick's family acquired financial interests in the project, raising questions about potential conflicts of interest.

A separate controversy centers on a $620 million conditional Pentagon loan to North Carolina-based startup Vulcan Elements to expand critical minerals processing.

Critics questioned the deal after a venture capital firm backed by Donald Trump Jr acquired a stake in the company several months before the loan was announced.