The White House on Monday confirmed the launch of a major strategic initiative, dubbed “Project Vault,” to establish a national stockpile of critical minerals. Backed by $12 billion, the plan aims to secure supplies for automakers, tech firms, and defense contractors, marking a significant operational step in the U.S. effort to rewire global supply chains and reduce dependence on China.
The announcement triggered an immediate positive market response. Shares of rare earths companies surged, with MP Materials (MP) up 3.5% and USA Rare Earth jumping 10% in early trading. Other related firms like Critical Metals and Niocorp Developments also posted solid gains, reflecting strong investor confidence in the new policy’s implications for domestic demand.
According to disclosed details, the financing for Project Vault combines $167 million in private capital with a $10 billion loan from the U.S. Export-Import Bank. The initiative’s operational model mirrors the country’s Strategic Petroleum Reserve but focuses on minerals such as gallium and cobalt, which are essential for products ranging from smartphones and electric vehicles to jet engines.
Perhaps more notable is the broad coalition of industrial giants that have signed on to the project. More than a dozen companies across automotive, aerospace, technology, and energy sectors are confirmed participants, highlighting a unified corporate push for supply chain security. Key participants include:
While the U.S. maintains a national stockpile for defense purposes, it has lacked a comparable reserve for civilian industry. Project Vault is designed to fill that critical gap.
“Project Vault is a clear signal that U.S. critical mineral policy has moved to deployment,” said Harvey Kaye, Chairman of US Critical Materials. “It unequivocally declares that secure supplies of rare earths and heavy minerals like gallium are now treated as strategic infrastructure for our economy and defense industrial base, to establish U.S. sovereignty.”
The move fits into the Trump administration’s broader strategy of supply chain “decoupling” from China. In a symbolic gesture uniting consumers and producers of critical minerals, President Trump met Monday with GM CEO Mary Barra and mining entrepreneur Robert Friedland.
Taken together with other unusual steps—such as direct government investment in domestic mining companies—Project Vault sketches a clear blueprint for building a resilient, China-independent supply chain for the minerals that power modern technology. Its launch adds substantial new weight to the global contest for future industrial dominance.
