US EditionTrump launches $12 billion minerals stockpile to boost US manufacturing, counter China
Project Vault combines $2 billion private capital with a $10 billion government loan to shield U.S. manufacturers from supply disruptions and reduce reliance on China.
- On Monday, President Donald Trump announced Project Vault, a $12 billion strategic stockpile to reduce U.S. dependence on China for critical minerals and supply automakers, tech firms, and defense contractors.
- China's dominance in processing has left the U.S. vulnerable, with Beijing controlling about 70% of rare-earth mining and 90% of processing, while the U.S. relied entirely on imports for 12 minerals in 2024.
- The plan pairs a $10 billion EXIM loan with nearly $1.67 billion in private capital, with Hartree Partners LP, Traxys North America LLC, and Mercuria Energy Group Ltd. handling purchases while EXIM's board was set to vote on a 15-year loan authorization.
- Investors bid up rare-earth stocks after the news as shares of U.S.-listed rare earth miners jumped Monday and MP Materials surged 4%, while administration officials say the stockpile will stabilize supplies and help participating manufacturers avoid costly stockpiles.
- At a Washington summit on Wednesday, officials will urge allied nations to pursue similar pacts, building on last week's $1.6 billion Rare Earths USA investment and the October US-Australia framework of $12.2 billion.
239 Articles
239 Articles
US President Donald Trump has signed an executive order to create a strategic reserve of key rare earth minerals in the US to reduce the country's dependence on China. China dominates their mining and processing. The project will initially cost almost $12 billion (246 billion crowns).
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