03.02.2026 07:53
U.S. President Donald Trump announced a $12 billion initiative for a 'critical mineral reserve' to support American industry. Trump stated, "We are launching an initiative known as Project Vault to ensure that American companies and workers are not harmed by any shortages."
U.S. President Donald Trump announced a $12 billion initiative for a "critical mineral reserve" for American industry.
Trump made statements regarding the issue at the White House.
Pointing out that American companies have faced the risk of depletion of critical minerals during market disruptions for years, Trump said, "We are launching an initiative known as Project Vault to ensure that American companies and workers are not harmed by any shortages."
"WE ARE CREATING A RESERVE FOR AMERICAN INDUSTRY"
Trump stated, "Just as we have had a strategic petroleum reserve and a stockpile of critical minerals for national defense for a long time, we are now creating this reserve for American industry, so we will not face any issues."
Noting that this initiative will bring together $10 billion in financing from the U.S. Export-Import Bank and $2 billion in private sector financing, Trump explained that they expect American taxpayers to profit from the interest on the loans used to initiate the project.
"THE GOVERNMENT IS TAKING EXTRAORDINARY STEPS"
Trump mentioned that the government has taken "extraordinary" steps in the past year to secure all critical minerals and rare earth elements needed by the U.S., recalling that they have invested in mining projects and expedited federal permitting processes.