The United States has long maintained strategic reserves such as the Strategic Petroleum Reserve, but ‘Project Vault’ marks the first attempt to build a civilian stockpile of minerals.
Washington: President Donald Trump has unveiled the US Strategic Critical Minerals Reserve, describing it as the nation’s first civilian stockpile of vital raw materials to shield American industry from supply chain shocks.
Critical minerals – essential for advanced manufacturing, energy systems, electronics and defence – have become a focal point of US diplomacy amid concerns over reliance on China-linked supply chains. Barra said a resilient supply chain was “critical for all industry, especially the auto industry,” adding she remained optimistic about consumer demand heading into 2026.
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Announcing the initiative at a signing ceremony on Monday attended by Cabinet members, lawmakers and business leaders including General Motors CEO Mary Barra, Trump said the reserve would operate under a programme dubbed Project Vault. “Just as we have long had a strategic petroleum reserve, we’re now creating this reserve for American industry so we don’t have any problems,” he declared.
The plan combines $10 billion in Export-Import Bank financing with $2 billion from the private sector, with Trump insisting taxpayers would profit from the interest on loans used to establish the reserve. Export-Import Bank Chairman John Yovanovitch described the directive as “much more of an order” than a request, emphasising that it would support the civilian manufacturing sector without direct subsidies.
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Interior Secretary Doug Burgum credited Trump with accelerating mining approvals and forging international partnerships, noting that 11 more countries would soon join a global coalition on minerals, with 20 others expressing interest. Treasury Secretary Scott Bessent tied the project to national strategy, stating, “Economic security is national security.”
The United States has long maintained strategic reserves such as the Strategic Petroleum Reserve, but Project Vault marks the first attempt to build a civilian stockpile of minerals, underscoring Washington’s growing focus on economic security in an era of geopolitical competition.
IANS
Published: 03 Feb 2026, 09:28 pm IST
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