Trump Launches 'Project Vault' for Strategic Rare Earth Mineral Stockpile

On February 3rd, Reuters reported that President Donald Trump announced plans to establish a strategic mineral reserve with $10 billion in initial funding from the U.S. Export-Import Bank. Trump stated that American businesses have long risked critical mineral shortages during market disruptions, and the 'Project Vault' aims to ensure American businesses and workers are protected from potential supply chain issues. The project targets minerals like lithium, nickel, and rare earth elements crucial for electric vehicle production, modern weapons, and various industrial goods. The initiative will combine $2 billion in private sector funding with massive loans from the Export-Import Bank to purchase and stockpile minerals for automotive manufacturers, technology companies, and other producers. The primary goals include supporting the U.S. automotive industry, helping companies reduce balance sheet risks, and maintaining a 60-day emergency mineral reserve.