President Donald Trump on Friday named the Colorado School of Mines among roughly a dozen institutions that will share in a $100 million commitment “to train the next generation of American miners.”

Paul Johnson, the university’s president, said he is “doing the happy dance” after learning the administration planned to invest millions not only in revitalizing the mining industry but also in supporting engineering schools.

“Half of our current mining workforce is set to retire within the next three years,” Trump said at a roundtable discussion in Washington, D.C. “The schools came to us seeking $10 million per year in funding. Instead, I’m thrilled to announce that we’re delivering $100 million to train the next generation of American miners.”

Johnson thanked Trump and said the funding would significantly strengthen the mining community. He noted that, while mining programs nationwide have shrunk, they have grown in Colorado over the past two years — growth he attributed to the administration’s support.

The university added that the investment will help the Colorado School of Mines build a 50,000-square-foot facility focused on advancing technology, speeding ideas into pilot programs and moving innovations toward commercialization.

Secretary of State Marco Rubio, Commerce Secretary Howard Lutnick and Interior Secretary Doug Burgum joined the discussion.

Rubio called the investment essential, saying mining is “a domain that goes to the very survival of the country” and argued the U.S. has fallen decades behind. Trump’s announcement, he said, will help reverse that trend.

In addition to funding for mining schools, Trump said more than $2 billion in funding will go toward critical mining and mining-related projects aimed at revitalizing the industry.

“The mining industry has never had a greater champion than President Trump,” White House spokesperson Taylor Rogers said in a statement. “His unprecedented support has driven record investment, streamlined permitting and delivered real results for American workers, companies and communities.”