The Trump administration is rolling out Project Vault, a $12 billion public-private partnership to secure critical minerals for U.S. industry. Backed by the Export-Import Bank and major manufacturers, the plan aims to stabilize prices and shield companies from supply shocks tied to China. Markets reacted positively, sending rare earth stocks sharply higher. Officials say the initiative marks the first large-scale civilian mineral reserve in U.S. history.
Trump unveils a $12B “Project Vault” mineral stockpile to counter China’s dominance. Backed by big industry and federal loans, rare earth stocks jump as the U.S. targets supply security for civilian manufacturers. #RareEarths #AmericaFirst pic.twitter.com/efsvN5Cxmi
— Matthew Brady (@mattbrady775) February 2, 2026
- The administration of Donald Trump announced plans for a $12 billion strategic mineral stockpile, known as Project Vault, aimed at reducing U.S. reliance on China for rare earths and critical minerals.
- Initial financing includes $10 billion in loans from the U.S. Export-Import Bank and $1.67 billion from private investors; the deal would be the bank’s largest ever.
- Major corporate participants include General Motors, Boeing, Google, Stellantis, Corning, and GE Vernova.
- Trading firms Hartree Partners, Traxys North America, and Mercuria Energy will source and manage materials.
- Rare earth stocks, including MP Materials and USA Rare Earth, jumped 5–10% following the announcement.
- The stockpile will focus on minerals such as gallium and cobalt, used in EVs, smartphones, and aircraft engines.
- Officials say investor demand has been strong and the project is oversubscribed, though full cost structures remain undisclosed.
