WASHINGTON -- The Trump administration has agreed to provide more than $2 billion in funding for companies producing batteries and critical minerals, adding to a wave of government cash aimed at weaning the U.S. off Chinese suppliers.

President Trump announced at a Friday roundtable with mining executives that the Defense Department has committed to lend next-generation battery company Sila Nanotechnologies $1.4 billion, and signed deals with three other companies. More powerful batteries are needed for everything from drones to data centers that run artificial-intelligence models, making domestic production a priority for the administration.

Fears that the U.S. is reliant on China and other countries for the critical components of weapons and equipment needed by the Pentagon have fueled a government lending spree of tens of billions of dollars. The Defense Department has an office staffed with bankers and other specialists dedicated to funneling the money to the right projects.

Increasing domestic production of batteries and metals was the focus of Friday's roundtable at the State Department, which included Secretary of State Marco Rubio and Commerce Secretary Howard Lutnick.

"We want these essential products to be mined, refined and made right here in the USA," Trump said, contending that the administration has done some 160 minerals deals worth nearly $40 billion. U.S. companies are opening new mines at the fastest pace since the 1950s thanks to expedited permitting, he said.

Founded in 2011 by a former Tesla engineer, Sila has been trying to expand its production of batteries that use silicon to provide better performance. The company has raised more than $1 billion from investors including T. Rowe Price to build out its plant in Washington state. It was awarded a $100 million grant from the Biden administration, which also attempted to use grants and loans to spur domestic production of critical products.

The Pentagon is also awarding a $400 million loan to Sunrise Energy Metals, a publicly traded Australian company attempting to mine scandium in the country. Scandium is used to strengthen aluminum in sectors including aerospace. The U.S. government will get priority in purchasing the output, a setup the Defense Department has used in many of its critical-minerals deals.

Niron Magnetics, a Minnesota-based company aiming to produce magnets without mining rare-earth minerals, has a $150 million loan agreement with the Pentagon and hopes to build a facility of more than $600 million in the state. Such magnets are in everything from smartphones to missile systems.

The final agreement is an $85.5 million equity investment by the government in Strategic Bauxite. Bauxite is the material needed to produce aluminum.

The administration's unusual pattern of taking equity stakes in companies it provides funding, such as chip maker Intel, has fueled criticism that the government shouldn't be intervening to that extent in the private sector. Trump has said such deals let taxpayers benefit if the companies increase in value.

The agreements still have to be completed, and it could take years for the planned projects to be finished. Many mining projects ultimately fail because of technological setbacks or high costs.

Trump also said the administration would award more than $180 million in grants through the Energy Department and universities to train the next generation of miners .