US Plans $12 Billion 'Mineral Reserve' in Response to Chinese Pressure: WSJ

The Trump administration in the United States is set to create a strategic reserve of critical minerals valued at approximately $12 billion, aimed at reducing American industry’s dependence on Chinese supplies. This information was reported by the WSJ, citing a White House spokesperson.

The project, named 'Project Vault,' is a response to China's use of its supply chain dominance to exert pressure on key American industries. Funding will include around $1.67 billion from private capital and a $10 billion loan from the US Export-Import Bank (Ex-Im Bank).

The reserve will comprise materials gathered from automakers, technology firms, and manufacturers, including rare earth elements, gallium, and cobalt.