Trump to Launch $12 Billion Critical Mineral Stockpile to Blunt Reliance on China
The venture — dubbed Project Vault — is set to marry $1.67 billion in private capital with a $10 billion loan from the US Export-Import Bank to procure and store the minerals for automakers, tech firms and other manufacturers. Details of the initiative, which would represent a first-of-its-kind stockpile for the US private sector, were described by senior administration officials, who asked not to be identified discussing a plan that has yet to be announced.
The venture — dubbed Project Vault — is set to marry $1.67 billion in private capital with a $10 billion loan from the US Export-Import Bank to procure and store the minerals for automakers, tech firms and other manufacturers. Details of the initiative, which would represent a first-of-its-kind stockpile for the US private sector, were described by senior administration officials, who asked not to be identified discussing a plan that has yet to be announced.