Trump Announces $12 Billion Project Vault Critical Minerals Stockpile

President Donald Trump announced the creation of Project Vault on February 2, 2026, introducing a $12 billion stockpile of critical and rare earth minerals. The initiative is designed to address U.S. dependence on foreign sources for essential materials used in key industries.

According to the announcement, Project Vault aims to secure supplies of minerals vital to sectors such as automotive, electronics, defense, and energy. The project is intended to reduce the country’s reliance on China, which currently dominates global rare earth mining and processing.

The funding structure for Project Vault combines a $10 billion, 15-year loan from the U.S. Export-Import Bank with approximately $1.67 billion in private-sector investment. The Export-Import Bank’s board was expected to vote on the loan on the same day as the announcement.

Project Vault is modeled after the Strategic Petroleum Reserve, establishing a civilian reserve for critical minerals. This approach is intended to create a domestic buffer of essential materials for U.S. industries.

What the numbers show

• $12 billion is allocated for the Project Vault stockpile
• The U.S. Export-Import Bank is providing a $10 billion loan over 15 years
• China holds about 70% of global rare earth mining and 90% of processing capacity
• Private-sector capital contributes approximately $1.67 billion to the project

Three commodities trading firms—Hartree Partners, Traxys North America, and Mercuria Energy Group—have been assigned responsibility for procuring and managing the mineral stockpile. Their involvement is intended to facilitate the acquisition and oversight of the reserve’s contents.

More than a dozen large companies have agreed to participate in Project Vault. These include General Motors, Stellantis, Boeing, Corning, GE Vernova, and Google, according to the announcement.

The stockpile is intended to support U.S. manufacturers by ensuring access to minerals that are essential for production. The initiative responds to concerns about supply chain vulnerabilities in critical sectors.

China currently controls a substantial share of the global supply chain for rare earth elements, with around 70% of mining and 90% of processing capacity worldwide. Project Vault is positioned as a response to this concentration of supply.

* This article is based on publicly available information at the time of writing.