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- Democratic senators raised conflict of interest concerns in the Trump administration’s critical mineral deals.
- The government is working on several deals with financial ties to the families of President Donald Trump or Commerce Secretary Howard Lutnick, The New York Times reported.
- The senators are demanding information from the Departments of Commerce, Defense, Energy, Interior and the Export-Import Bank of the United States.
U.S. President Donald Trump speaks, as he signs executive orders, while Howard Lutnick stands in the background, in the Oval Office of the White House in Washington, U.S., Feb. 10, 2025. Kevin Lamarque | Reuters
Democratic senators on Friday demanded information on more than a dozen critical mineral deals with federal government that potentially benefit the families of President Donald Trump or Commerce Secretary Howard Lutnick.
The federal government is working on deals with at least 14 companies that have financial ties to the Trump or Lutnick families, the senators said, pointing to a New York Times investigation in June. The Trump administration has provided or is considering providing more than $8.9 billion in funding to the companies, according to the Times.
The senators asked the Departments of Commerce, Defense, Energy, Interior and the Export-Import Bank of the United States to preserve all records and communications related to those deals.
“It is especially important that federal investments meant to secure vital national security and economic interests like critical minerals are based on the merits, and that decisions to spend taxpayer dollars to secure these resources are made free of conflicts of interest,” Senators Richard Blumenthal of Connecticut, Adam Schiff of California, and Elizabeth Warren of Massachusetts said in a letter to the agencies.
“The circumstances regarding these deals suggest that those goals might not be at the forefront of the Administration’s considerations regarding these transactions,” the senators said.
Cantor Fitzgerald, the financial firm run by Lutnick’s sons, has frequently served as an advisor, underwriter, or placement agent for the companies, according to the Times.
In a separate letter, the senators demanded information about White House involvement in the Pentagon’s selection of the startup Vulcan Elements for a $620 million loan, citing a ProPublica investigation in May. Donald Trump Jr.‘s financial firm 1789 Capital invested in Vulcan prior to the deal.
“These reports raise grave ethical and public safety concerns and the specter that the Pentagon is corruptly prioritizing funding for critical defense components based on ties to the Trump family,” the senators told David Lorch, director of the Pentagon’s Office of Strategic Capital.
The White House, in a response to a request for comment, said “the only special interest guiding the Trump administration’s decision-making is the best interest of the American people.”
“Securing and reshoring America’s critical supply chains has been a top priority for President Trump, and Secretary Lutnick along with the rest of the Administration continue to take historic action to safeguard America’s national and economic security,” White House spokesman Kush Desai said.
The companies named in the senators’ letter to the federal departments are:
- USA Rare Earth
- Kaz Resources
- Perpetua Resources
- ASP Isotopes
- Critical Metals
- Vulcan Elements
- The Metals Company
- Trilogy Metals
- American Ocean Minerals
- Guardian Metal Resources
- Titan Mining
- Westwater Resources
- Reelement/American Resources Corp.
- Energy Fuels
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