President Donald Trump Thursday signed an executive order to increase mineral production in the United States. 

The executive order states that the U.S. possesses “vast mineral wealth,” but “overbearing federal regulation has eroded the nation’s mineral production.” 

The order, among other things, directs the head of each executive department and agency involved in permitting mines to create a list of projects that have submitted permit applications. The order also asks the secretary of the Interior and other agencies to create lists of mineral deposits and priorities for production. 

The measure also empowers agencies to make loans, loan guarantees, grants and other financial incentives to secure vital mineral supply chains domestically and abroad.