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Trump launches $12 billion minerals stockpile to boost US manufacturing, counter China
Project Vault will combine $1.67 billion private capital with a $10 billion Export-Import Bank loan to reduce supply risks and dependence on Chinese critical minerals.
- President Donald Trump unveiled Project Vault in the Oval Office, backing the first-of-its-kind private-sector stockpile with $12 billion in seed money.
- Frustration over supply shocks drove the effort to reduce risk after China tightened export controls last year, prompting U.S. initiatives to boost domestic mineral production.
- The venture's financing pairs $1.67 billion in private capital with a $10 billion loan from the U.S. Export‑Import Bank, with participating manufacturers committing to purchase materials at set prices and three commodities trading houses handling purchases.
- Shares of U.S.-listed rare earth miners jumped Monday after news of the plan, and the Export-Import Bank board is set to vote later Monday to authorize a record-setting 15-year loan as Trump meets Mary Barra and Robert Friedland.
- The move could reshape supply chains across automotive, aerospace and energy sectors and may push nations to pursue similar pacts at a Washington summit on Wednesday.
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Trump launches $12 billion minerals stockpile to counter China: Report
America is set to launch a significant critical minerals stockpile. This initiative, backed by $12 billion, aims to counter China's influence on vital mineral prices. The project, named Project Vault, will involve private funding and a substantial loan from the U.S. Export-Import Bank. Major companies like General Motors and Boeing are participating.
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Total News Sources36
Leaning Left4Leaning Right6Center21Last UpdatedBias Distribution68% Center
Bias Distribution
- 68% of the sources are Center
68% Center
13%
C 68%
R 19%
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