The Hill’s Rachel Frazin reports on a new administrative initiative on critical minerals.
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President Trump announced a $12 billion plan to create the first U.S. stockpile of critical minerals, meant to protect American manufacturers from supply disruptions in materials used across tech, energy, and defense. The reserve, dubbed “Project Vault,” would be backed by a $10 billion Export-Import Bank loan and roughly $2 billion in private investment.
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The stockpile is designed to support private companies—not just the military—and reflects growing bipartisan concern about U.S. dependence on China, which dominates global mining and processing of many critical minerals.
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