Democratic lawmakers in the U.S. Congress are raising concerns over the Trump administration's acquisition of stakes in mineral companies, notably Korea Zinc, which they argue represents unprecedented government intervention in private enterprise. They express alarm over the implications of the federal government becoming a major shareholder in these firms, particularly in the context of transparency and oversight regarding taxpayer money.

The investigation, led by Senate Energy and Natural Resources Committee member Martin Heinrich and House members Jared Huffman and Robert Garcia, has prompted a demand for documents and a congressional briefing. The lawmakers contend that between July 2025 and January 2026, the Trump administration acquired significant stakes in seven mining and mineral companies, including Korea Zinc. They are particularly scrutinizing the sources of funding for these acquisitions and whether resources allocated under the CHIPS Act, aimed at boosting the semiconductor industry, have been misappropriated for investments in the mineral sector.

Furthermore, concerns are rising regarding the transparency of these transactions, especially as President Trump enacted Executive Order 14241, which exempted such acquisitions from mandatory Congressional notice and SEC disclosure requirements under the Defense Production Act. This exemption potentially undermines public oversight and accountability for how taxpayer dollars have been spent and calls into question the viability of businesses that have received government investment. The inquiry also aims to examine any potential connections between high-profile Trump associates and the companies involved in these acquisitions, further complicating the political landscape around this issue.