Trump's Project Vault: Securing Critical Minerals for America's Future

U.S. President Donald Trump plans to establish a strategic stockpile of critical minerals with a $12 billion investment from the U.S. Export-Import Bank. Project Vault aims to help American industries by securing vital minerals like lithium and rare earths, offsetting perceived Chinese market manipulation.

In a strategic move, President Donald Trump is launching Project Vault, a $12 billion initiative to establish a critical minerals stockpile, an official from the administration confirmed. This venture, backed by the U.S. Export-Import Bank, is Washington's latest effort to combat Chinese pricing manipulation that has hindered U.S. mining operations.

Reported first by Bloomberg News, Project Vault will merge private capital with a $10 billion loan from the EXIM Bank. The goal is to secure and store essential minerals for automakers, tech companies, and manufacturers. However, the White House has yet to comment on the development.

The initiative has garnered interest from several U.S. auto and tech firms, with commodities firms like Hartree Partners and Mercuria Energy Group set to manage raw material procurement. The project not only aids the American auto sector by allowing mineral stockpiling without financial risk, but it also ensures a 60-day emergency supply. Meanwhile, legislation for a $2.5 billion critical minerals stockpile continues to progress, aiming to stabilize market prices and promote domestic mining.

(With inputs from agencies.)