WATCH: 4 things to know about the Trump administration buying a lithium mine

The U.S. government is on a buying spree.

In recent weeks, the U.S. has taken ownership stakes in four major corporations, and more may be to come, marking a new approach in how the government kickstarts industries.

One of those deals, announced Oct. 1, involved the Department of Energy taking a 5% stake in Lithium Americas, and a 5% stake in its Thacker Pass lithium mine in Nevada. Despite its large reserves, the U.S. produces less than 1% of the world’s lithium.

The lithium deal was announced on the same day that subsides for electric vehicles — considered a driving force for lithium demand — expired. And comes as the Trump administration cancels, or pauses, renewable energy projects, which frequently use large lithium-ion batteries to store power.

PBS News’ Tim McPhillips spoke to Ian Lange, the Coulter Chair of Mineral Economics at the Colorado School of Mines to look at the deal, why the U.S. government is taking ownership stakes in corporations and the questions that remain around the U.S. government entering the rare earths market.

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