Trump launches $12 bln minerals stockpile to counter China
STORY: Shares of rare earth miners jumped on Monday after news that U.S. President Donald Trump will launch a $12 billion strategic stockpile of critical minerals. The investment marks Washington's latest attempt to offset what policymakers view as Chinese manipulation of prices for lithium, nickel, rare earths and other critical minerals, which has stymied American mining companies for years. Shares of USA Rare Earth rose as much as 16%, while Critical Minerals Corp gained more than 13% and MP Materials added as much as 7%. Rare earth minerals are essential for items ranging from electric vehicles to high-tech weaponry. First reported by Bloomberg News, the venture, called Project Vault, will combine private funding with a $10 billion loan from the U.S. Export-Import Bank. The aim is to acquire and stockpile minerals for automakers, technology companies and other U.S. manufacturers. A Trump administration official said the president is set to meet Monday with General Motors CEO Mary Barra and mining billionaire Robert Friedland, who represent both users and producers of critical minerals. The White House did not immediately respond to a request for comment. Last month, a bipartisan group of U.S. lawmakers introduced a bill to create a $2.5 billion stockpile of critical minerals, a move aimed at stabilizing market prices and encouraging domestic mining and refining.
<body><p>STORY: Shares of rare earth miners jumped on Monday after news that U.S. President Donald Trump will launch a $12 billion strategic stockpile of critical minerals.</p><p>The investment marks Washington's latest attempt to offset what policymakers view as Chinese manipulation of prices for lithium, nickel, rare earths and other critical minerals, which has stymied American mining companies for years.</p><p>Shares of USA Rare Earth rose as much as 16%, while Critical Minerals Corp gained more than 13% and MP Materials added as much as 7%.</p><p>Rare earth minerals are essential for items ranging from electric vehicles to high-tech weaponry.</p><p>First reported by Bloomberg News, the venture, called Project Vault, will combine private funding with a $10 billion loan from the U.S.
Export-Import Bank.</p><p>The aim is to acquire and stockpile minerals for automakers, technology companies and other U.S. manufacturers.</p><p>A Trump administration official said the president is set to meet Monday with General Motors CEO Mary Barra and mining billionaire Robert Friedland, who represent both users and producers of critical minerals.</p><p>The White House did not immediately respond to a request for comment.</p><p>Last month, a bipartisan group of U.S. lawmakers introduced a bill to create a $2.5 billion stockpile of critical minerals, a move aimed at stabilizing market price
s and encouraging domestic mining and refining.</p></body>