US Launches Critical Minerals Stockpile

Donald Trump is launching Project Vault, a strategic critical minerals stockpile, with $12 billion in funding. This initiative, backed by a $10 billion loan from the United States — Export–Import Bank of the United States and $1.67 billion in private capital, aims to counter China's dominance in critical minerals like lithium, nickel, and rare earths. The stockpile will secure supplies for industries such as automotive, aerospace, and technology, reducing the United States's vulnerability to price manipulation and supply shocks. Companies like General Motors, Stellantis, Boeing, Corning Inc., GE Vernova, and Alphabet Inc.'s Alphabet Inc. are participating, with commodities trading firms Hartree Partners, North American Cobalt Inc., and Mercuria managing procurement. The project is designed to operate similarly to the national emergency oil stockpile, offering manufacturers a way to insulate their businesses from volatile prices without maintaining their own reserves. This move is part of a broader effort by the United States to strengthen domestic production and diversify its supply chains through agreements with countries like Australia, Japan, and Malaysia.