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Trump Unveils $12 Billion Mineral Reserve With Record Ex-Im Loan

Feb. 2, 2026, 9:45 PM UTC
Skylar Woodhouse
Skylar Woodhouse
Jennifer A. Dlouhy
Jennifer A. Dlouhy
Bloomberg News
Joe Deaux
Joe Deaux
Bloomberg News
Hadriana Lowenkron
Hadriana Lowenkron

President Donald Trump formally announced plans to launch a $12 billion critical minerals stockpile, in his latest effort to aid manufacturers while minimizing reliance on Chinese rare earths.

The so-called Project Vault is meant to “ensure that American businesses and workers are never harmed by any shortages,” Trump said Monday at the White House.

“We don’t want to ever go through what we went through a year ago,” he said, alluding to trade spats between Washington and Beijing that saw restrictions on access to China’s dominant supply of rare-earth supplies.

WATCH: President Donald Trump unveils “Project Vault” to stockpile $12 billion in critical minerals in order to minimize reliance on Chinese rare earths. Source: Bloomberg

The initiative is set to combine ...

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