Trump Launches $12 Billion Minerals Stockpile to Counter China

President Donald Trump is set to launch a strategic critical-minerals stockpile with $12 billion in seed money, a bid to insulate manufacturers from supply shocks as the US works to slash its reliance on Chinese rare earths and other metals.

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.

US rare-earths stocks jumped in premarket trading upon news of the administration’s plan, including USA Rare Earth Inc., Critical Metals Corp., ...