Democrats slam Trump administration's 'buying spree' involving Nevada mine

Alan Halaly, Las Vegas Review-Journal on Feb 2, 2026

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LAS VEGAS — The federal government’s decision to directly buy stakes in mining companies is largely without precedent in American history, and two mines with Nevada ties have been among the biggest beneficiaries.

But now, three high-ranking Democrats in Congress have questions.

“By privileging select corporations through direct ownership — essentially picking winners and losers — the government may undermine broader market competition and the development of innovative technologies or mineral or material substitutions,” reads a Monday letter.

While the lawmakers say they support investments in mining, they allege that the Trump administration’s “buying spree” between July and January came with little congressional notification because of an executive order.

That order waived Securities and Exchange Commission disclosures intended to tell taxpayers about the economic viability of each mine, the lawmakers said.

The letter was penned by House Natural Resources Committee Ranking Member Rep. Jared Huffman, D-Calif., House Oversight and Government Reform Committee Ranking Member Robert Garcia, D-Calif., and Senate Energy and Natural Resources Ranking Member Martin Heinrich, D-N.M.

It is addressed to four Trump administration cabinet members, Energy Secretary Chris Wright, Commerce Secretary Howard Lutnick, Interior Secretary Doug Burgum and Defense Secretary Pete Hegseth. None of those departments responded to requests for comment Monday.

“To date, there has been no public disclosure of procedures or safeguards in place to ensure these ownership stakes do not influence permitting decisions, regulation generation, alteration, or enforcement, contracting decisions, or any other agency decisions relating to these mining and minerals projects,” the lawmakers wrote.

The two companies with Nevada ties that are mentioned in the letter are Lithium Americas, which is building the Thacker Pass mine in Northern Nevada, and Las Vegas-based MP Materials.

Investments into seven companies in total are called into question.

The Thacker Pass lithium mine near the Nevada-Oregon border has been riddled with controversy from nearby ranchers and Native Americans. To make good on the federal government’s promise of a $2.2 billion loan, the Energy Department sought a 5 percent stake in both the Thacker Pass mine and in Lithium Americas.

House Democrats, including Huffman, demanded an ethics probe last month into what they see as misconduct following a secretive water deal involving an Interior official that they say could have contributed to a quick permitting process.

In a Monday statement, Lithium Americas spokesman Tim Crowley said the investments are crucial to building a North American supply of lithium — a mining sector largely dominated by China and Australia.

“We are honored to have a strong working relationship with the federal government and the support of local, state and federal officials who see the value of securing our country’s energy future,” Crowley said.

MP Materials operates the Mountain Pass rare earths mine just past the California state line, and the Defense Department bought $400 million in company shares last year under Hegseth.

Company spokesman Matt Sloustcher declined to comment on the letter.

In the letter, the lawmakers ask Trump officials for a slew of documents that would reveal what internal processes, if any, exist to evaluate whether the federal government should invest in a mining company.

Whether conflicts of interest arise in the federal government’s regulatory role is the subject of the inquiry, too.

Spokespeople for Nevada’s two representatives on the House Natural Resources Committee, Reps. Susie Lee, D-Nev., and Mark Amodei, R-Nev., did not provide comment when reached Monday. The office of Sen. Catherine Cortez Masto, D-Nev., who is on the Senate Energy and Natural Resources Committee, did not return a request for comment.

The lawmakers set a Feb. 26 deadline for officials to turn over documents, and that is also the date by which the administration must brief Congress, according to the letter.

Aaron Mintzes, deputy policy director of the environmental nonprofit Earthworks, said he feels the Trump administration is playing favorites in selectively buying mining stakes, all while using taxpayer dollars to support some projects he sees as irresponsible.

“The American people now own stakes in projects that threaten irreplaceable ecosystems, Tribal rights, and sacred sites,” Mintzes said in a Monday statement. “Mining causes permanent impacts to land and people. Congressional leaders are right to call for strong oversight.”

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