Trump unveils Project Vault critical mineral stockpile plan
Updated
Updated · Bloomberg · May 6
Trump unveils Project Vault critical mineral stockpile plan
16 articles · Updated · Bloomberg · May 6
At a February Oval Office ceremony, he approved a $12 billion public-private reserve, with General Motors chief Mary Barra and Ivanhoe Mines founder Robert Friedland present.
The White House said the stockpile would cover dozens of elements to protect US businesses and workers from shortages, comparing it with the Strategic Petroleum Reserve.
The report says $12 billion may be too small to shield widely used commodities such as copper, but large enough in niche minerals to move or distort markets.
Beyond stockpiling, how will the U.S. achieve true long-term mineral independence?
Can a $12 billion mineral reserve secure supply chains without distorting global markets?
How will the reserve balance national security goals with the financial interests of its private partners?
Project Vault Launches $12 Billion U.S. Critical Minerals Reserve to Stabilize Markets and Reduce Foreign Dependence
Overview
Project Vault, launched in February 2026 with $12 billion in funding, is a U.S. initiative to create a centralized reserve of critical minerals essential for industries like electric vehicles, solar energy, and defense. It uses a demand-driven model where manufacturers pay upfront to lock in prices and commit to repurchasing minerals, stabilizing market volatility. Initially sourcing globally, including from China, the project plans to shift toward domestic and allied suppliers to reduce strategic risks. Project Vault is part of a broader strategy that includes forming an international minerals alliance and boosting U.S. production. While it offers important short-term supply stability, experts see it as insurance that must be paired with long-term investments and partnerships to truly secure America’s mineral supply chain.