Was last week's deal between the Defense Department and rare earths company MP Materials a new blueprint for government support for other critical minerals? That's the question Politico asks this morning. The landmark deal includes a combination of government equity and debt financing, a price floor and long-term offtake agreements—a collection of industrial policy tools that taken together are expected to have a significant impact. At least one industry expert believes this announcement and the use of these tools could be "start to a massive campaign of similar announcements."

And the Wall Street Journal reports U.S. copper prices are trading at records ahead of the 50% tariff President Trump has said he will impose on imports on Aug 1. Traders and analysts expect copper prices in the U.S. to remain at a premium. The tariff announcement is driving the market, but copper prices were expected to climb regardless from booming demand to build data centers, renewable-energy installations and electric cars.

And President Trump will be travelling to Pittsburgh tomorrow to speak at an energy and AI summit at Carnegie Mellon University. President Trump and Sen. Dave McCormick are expected to announce $70 billion in AI and energy investments. Energy and AI leaders from around the world, including over 60 CEOs, will be in attendance, highlighting the intersection of the AI race with surging electricity demand.

That's your mining minute for this morning, highlighting some of the mining-related matters that are on our minds here in Washington and beyond. Follow us on the National Mining Association's channels, as well as on Minerals Make Life and Count on Coal, for more on the latest news and policies impacting mining.