Glencore to Help Build US Minerals Stockpile with $500M Government Financing

Glencore to help build US minerals stockpile with $500M government financing

Swiss miner and commodities trader Glencore (LSE: GLEN) will help build a U.S. critical minerals reserve after receiving a $500 million commitment from the Export-Import Bank of the United States...

Ex-Im declares Project Vault ‘operational,’ touts $1 billion in commitments

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Glencore Joins Project Vault With $500 Million Cobalt Commitment

Glencore committed $500 million to VaultCo, the Export-Import Bank public-private partnership sourcing critical minerals for a US government stockpile, Reuters reported Wednesday. The commitment makes Glencore the fourth supplier named to Project Vault, joining Hartree Partners, Mercuria Americas and Traxys seven months after EXIM's board approved the program's underlying loan. EXIM's board approved a $10-billion direct loan for Project Vault on…

U.S. mineral security strategy is moving from mining to stockpiling

Glencore’s involvement in a US critical minerals reserve marks a practical step toward protecting American manufacturing from interruptions in global raw material supplies. The company announced a $500 million commitment associated with VaultCo, an initiative supported by financing from the Export-Import Bank of the United States. Glencore will use its international sourcing and distribution network to procure and deliver minerals for the reser…