The Nickel Report

On July 4, 2025, the One Big Beautiful Bill Act (H.R.1) (the “OBBB”) was signed into law by President Trump. This comprehensive budget reconciliation bill includes provisions related to tax policy, federal spending, healthcare, border security, energy, and more.

On June 30, 2025, President Donald J. Trump signed a Presidential Memorandum titled Simplifying the Funding of Energy Infrastructure and Critical Mineral and Material Projects. Building on earlier presidential actions, including the Immediate Measures to Increase American Mineral Production executive order that called for the Export-Import Bank of the United States (EXIM), the United States International Development Finance Corporation (DFC), the Department of Energy (DOE), and other agencies to facilitate financing for mineral production projects, this Presidential Memorandum aims to enhance efficiency and simplify the funding process for energy infrastructure and critical mineral and material projects by streamlining federal funding applications.

On March 20, 2025, President Trump signed an executive order titled Immediate Measures to Increase American Mineral Production identifying immediate actions to boost the production of critical minerals within the United States. This executive order builds on the Unleashing American Energy executive order issued on January 20, 2025, which emphasized, among other things, a priority to establish the United States’ position as the leading producer and processor of non-fuel minerals, including rare earth minerals. This executive order outlines concrete steps to facilitate domestic mineral production and processing as part of a broader strategy to enhance national security, reduce reliance on foreign mineral supplies, reduce regulatory barriers, and promote domestic job creation and industry.

Last week marked the conclusion of the 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCC) in Dubai, United Arab Emirates (UAE). As we previously discussed, the expectations were COP28 would tackle a range of critical issues toward achieving the climate goals set out in the Paris Agreement. Below is an overview of the most significant developments coming out of Dubai, as reflected in the COP28 agreement, and the expectations for future climate action.