Trump Announces $12 Billion Rare Earth Minerals Stockpile

Washington — President Trump is initiating “Project Vault,” a $12 billion initiative aimed at stockpiling critical and rare earth minerals to reduce U.S. dependence on China. Funded by a $10 billion loan from the U.S. Export-Import Bank and additional private capital, the project targets minerals essential for industries like automotive, defense, and technology. The U.S. currently relies entirely on imports for 12 critical minerals and over 50% for 29 others. This move is part of ongoing efforts to negotiate mineral access with countries like Ukraine, Australia, and Greenland while navigating trade relations with China.