Project Vault: Securing America's Critical Mineral Future

U.S. President Donald Trump announced the creation of Project Vault, a critical mineral reserve aimed at preventing shortages that could harm American businesses and workers. The initiative involves $10 billion in EXIM bank financing and $2 billion from the private sector, with 11 additional countries joining a mineral trade club.

U.S. President Donald Trump has unveiled an initiative named Project Vault, aimed at safeguarding the nation's access to critical minerals.

Announced at the White House, this initiative seeks to protect American enterprises and workforce from potential mineral shortages, involving a financial package of $10 billion from the EXIM bank and $2 billion from the private sector.

Additionally, U.S. Secretary of the Interior Doug Burgum noted that a coalition of 11 more countries would be joining this week, enhancing the framework for international mineral trade.

(With inputs from agencies.)