Trump Unveils $12 Billion Critical-Minerals Stockpile Plan to Reduce Dependence on Chinese Supplies

President Trump unveils a $12 billion critical-minerals stockpile plan, Project Vault, to reduce dependence on Chinese supplies of rare earths and other critical minerals. The project combines a $10 billion loan from the US Export-Import Bank with $1.67 billion in private capital to acquire and store materials like gallium and cobalt. It has drawn interest from major industrial and technology companies, including GM, Stellantis, Boeing, Corning, and Alphabet's Google. Participating companies would hedge against price swings without holding physical stockpiles, paying upfront fees and ongoing carrying costs linked to financing and storage.