Trump Launches 'Project Vault' to Stockpile Rare Earths, Critical Minerals

• President Trump initiated 'Project Vault' to create a strategic reserve of 50 critical minerals and 17 rare earth elements.
• The project aims to safeguard the US and its allies from China's potential weaponization of mineral supplies, mirroring the 1970s oil stockpile.
• Financing for Project Vault includes a $10 billion loan from the US Export–Import Bank and $2 billion in private capital.
• China controls 70% of global rare earth mining and 90% of processing, and a significant portion of critical mineral mining and processing.
• The initiative addresses past supply disruptions, such as China's rare earth embargo during the tariff war, which severely impacted American industries.

Why It Matters: Trump's Project Vault aims to secure critical mineral supply chains, reducing US reliance on China.