US EditionTrump launches $12 billion minerals stockpile to boost US manufacturing, counter 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.
178 Articles
178 Articles
President Donald Trump said the United States would create a $12 billion strategic reserve of rare earth elements and other important minerals, aiming to reduce dependence on China, which controls most of the processing of these metals.
Trump launches RM48b minerals stockpile ‘Project Vault’ to counter China
WASHINGTON, Feb 3 — US President Donald Trump announced plans yesterday to launch a strategic stockpile of critical minerals backed by US$10 billion (RM40 billion) in seed funding from the US Export-Import Bank.“For years, American businesses have risked running out of critical minerals during market disruptions,” Trump said during an Oval Office event.“Today, we’re launching what will be known as Project Vault to ensure that American businesses…
Rare earths are needed, among other things, for magnets. They are promoted in many places - but China largely controls the finishing. For US companies there is now a reserve.
The Trump Administration announced the launch of a $12 billion critical mineral reserve to counter China’s market presence. The initiative consists of collecting and storing minerals, such as rare earths, gallium, cobalt, lithium and nickel, for American manufacturers. These are used for the manufacture of batteries, semiconductors and smartphones, among other things. Read more
Trump Launches "Project Vault" To Secure U.S. Critical Minerals And Break China’s Grip
by Emmitt Barry, Worthy News Washington D.C. Bureau Chief (Worthy News) – President Donald Trump announced Feb. 2 the creation of a new strategic private-sector critical minerals stockpile, a move the White House says will shield U.S. industry from supply shocks and reduce reliance on Beijing’s dominance of rare earths and key metals. Dubbed Project Vault, the initiative will be seeded with $1.67 billion in private capital and backed by a $10 bi…
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