President Trump is poised to launch a $12 billion stockpile of critical minerals, an attempt to reduce US reliance on China’s supply, The Post has learned.
President Trump is poised to launch a $12 billion stockpile of critical minerals — an attempt to reduce US reliance on China’s supply and stabilize prices for American manufacturers, The Post has learned.
The president’s Project Vault will be backed by $1.67 billion in private capital and a $10 billion loan from the US Export-Import Bank, a White House official confirmed to The Post.
Project Vault is Trump’s latest attempt to grapple with China’s dominance over rare earths, which are key to automotive, aerospace, and energy industries, Bloomberg earlier reported.
Shares in American rare earth miners NioCorp Developments, United States Antimony Corp, USA Rare Earth, and Critical Metals Corp soared 9.3%, 4.8%, 5.9% and 3.3%, respectively, following news of the project.
The first-of-its-kind minerals stockpile will act similarly to the nation’s emergency oil stockpile as the Trump administration aims to stabilize prices and minimize supply shocks.
Firms that pledge to buy materials at a specific inventory price down the line will pay up-front fees and give Project Vault a list of their preferred materials.
