Industry Applauds Project Vault, But Warns Supply Security Won't Be Immediate

2026-02-04 12:36:05 ET

President Donald Trump’s plan to launch a US$12 billion strategic stockpile of critical minerals is being welcomed across sectors as a long-awaited step toward reducing US dependence on China.

Known as Project Vault , the initiative combines up to US$10 billion in long-term financing from the US Export-Import Bank (EXIM) with roughly US$2 billion in private capital to procure and store minerals such as gallium, cobalt, lithium, and rare earth elements.

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