He announced a slew of investments during his speech, including a $US1.4 billion ($A2 billion) conditional loan from the US Department of Defense's Office of Strategic Capital for Sila Nanotechnologies, which makes lithium-ion battery parts. The OSC also extended a $US400 million conditional loan to scandium miner Sunrise Energy Metals and a $US150 million conditional loan to magnet developer Niron Magnetics. The US Export-Import Bank will lend $US58 million to Westwater Resources, Global Advanced Metals and 5E Advanced Materials. Trump said in 2025 he could bypass the United Nations-backed International Seabed Authority and issue international seabed mining licences. The Australian government on ​Saturday welcomed the Trump administration's loan to Sunrise Energy Metals, which is developing a scandium mine in NSW.