Catenaa, Monday, February 02, 2026- President Donald Trump is set to launch a strategic critical-minerals stockpile with $12 billion in seed money to insulate manufacturers from supply shocks.
The venture dubbed Project Vault is set to marry $1.67 billion in private capital with a $10 billion loan from the US Export-Import Bank to procure and store the minerals for automakers, tech firms, and other manufacturers.
US rare-earths stocks jumped in trading on Friday upon news of the administration’s plan. USA Rare Earth rose by 8%, Critical Metals by 4%, United States Antimony 4.5%, and NioCorp Developments.
Details of the initiative, which would represent a first-of-its-kind stockpile for the US private sector, were described by senior administration officials, who asked not to be identified, discussing a plan that has yet to be announced.
The effort is akin to the nation’s existing emergency oil stockpile. But instead of crude, its focus would be minerals, such as gallium and cobalt, used in products such as iPhones, batteries, and jet engines.
The stockpile is expected to include both rare earths and critical minerals, as well as other strategically important elements that are subject to volatile prices.
It represents a major commitment to accumulate minerals deemed critical to the industrial economy, including the automotive, aerospace, and energy sectors, and highlights Trump’s effort to wean US supply chains from China, the world’s dominant provider and processor of critical minerals.
The project has participation from more than a dozen companies so far, including General Motors, Stellantis, Boeing, Corning, GE Vernova, and Google.
Three commodities trading houses, Hartree Partners, Traxys North America, and Mercuria Energy Group, have signed on to handle purchases of the raw materials to fill the stockpile.
Ex-Im’s board is set to vote later Monday to authorize the record-setting 15-year loan, which is more than double the next-largest deal ever executed by the bank.
