Trump to launch $12B strategic critical minerals stockpile to counter China - Bloomberg

[Iridium is a metallic chemical element belonging to the class of transition metals, silver. Used in high strength alloys that can withstand high temperatures]
RHJ

President Trump is set to launch a strategic critical minerals stockpile with $12B in seed money, Bloomberg reported Monday, as the U.S. seeks to reduce its reliance on Chinese rare earths and other metals.

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The venture, to be named Project Vault, reportedly will combine $1.67B in private funding with a $10B loan from the U.S. Export-Import Bank to acquire and stockpile the minerals for automakers, technology companies and other manufacturers.

The effort would be similar to the U.S. emergency oil stockpile, but instead of crude, the initiative's focus would be minerals - such as gallium and cobalt - used in products such as iPhones, batteries and jet engines.

The project has attracted participation from more than a dozen companies, including General Motors (GM [https://seekingalpha.com/symbol/GM]), Stellantis (STLA [https://seekingalpha.com/symbol/STLA]), Boeing (BA [https://seekingalpha.com/symbol/BA]), Corning (GLW [https://seekingalpha.com/symbol/GLW]), GE Vernova (GEV [https://seekingalpha.com/symbol/GEV]) and Alphabet's Google (GOOGL [https://seekingalpha.com/symbol/GOOGL]), and trading firms Hartree Partners, Traxys North America and Mercuria Energy Group have signed on to manage the procurement of raw materials for the stockpile, according to the report [https://www.bloomberg.com/news/articles/2026-02-02/trump-launches-12-billion-minerals-stockpile-to-counter-china].

The Export-Import Bank's board is set to vote later on Monday to authorize the record 15-year loan, which is more than double the next-largest deal ever executed by the bank, the report said.

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