Resource wars: Trump targets China’s mineral monopoly with $12 billion ‘Project Vault’ strategic reserve
Proposed reserve will combine $1.67bn in private equity with a $10bn loan from the Export-Import Bank of the United States.
Shares in rare earth and critical mineral companies surged following news that President Donald Trump plans to establish a $12 billion strategic mineral reserve, aimed at reducing United States reliance on Chinese supplies. USA Rare Earth saw a 6.5% rise, United States Antimony gained 7%, and Critical Metals recorded an 8% jump following reports of the initiative, dubbed “Project Vault.” MP Materials, a leading American rare earth producer, gained 5.5%, while Ramaco Resources added 2%, Trilogy Metals rose 4%, and TMC the metals company increased by 6%.
The funding plan for ‘Project Vault’
According to Bloomberg News, citing senior government officials who requested anonymity as the plan has not yet been officially announced, the proposed reserve will combine $1.67 billion in private equity with a $10 billion loan from the Export-Import Bank of the United States. These funds will be utilized for the procurement and stockpiling of critical minerals intended for American manufacturers.
Modeled after the Strategic Petroleum Reserve
Similar to the United States Strategic Petroleum Reserve, “Project Vault” will focus on building stockpiles of minerals such as gallium and cobalt, which are essential for the production of smartphones, batteries, aircraft engines, and other high-tech products. The objective of the initiative is to shield American industries from supply chain disruptions and intense price volatility.
A clear message to China
This move underscores Donald Trump’s efforts to curb United States dependence on China, which currently dominates global production and processing of rare earths and many critical minerals vital to the automotive, aerospace, and energy sectors.
www.bankingnews.gr
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