US Launches 'Project Vault' to Counter China's Rare Earth Dominance, $12 Billion Investment

• The US is initiating 'Project Vault,' a $12 billion mineral stockpile, to reduce dependence on China for rare earth and critical minerals.
• This project aims to protect American companies from supply chain disruptions, price volatility, and China's market control.
• It will be the first large-scale mineral reserve for the private sector, with funding from private capital and a $10 billion loan from the Export-Import Bank.
• Minerals like rare earth, gallium, and cobalt, crucial for industries from smartphones to electric vehicles, will be stockpiled.
• Major companies including General Motors, Stellantis, Boeing, and Google are participating, with procurement handled by three commodity trading firms.

Why It Matters: Project Vault is America's strategic move to secure critical mineral supply chains and reduce reliance on China.