Newscasts - Trump launches $12 bln minerals stockpile to counter China

Critical Metals

02/02/2026 18:26

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Source: 'Reuters - Business videos'

Description: U.S. President Donald Trump is set to launch a strategic critical minerals stockpile with $12 billion in seed money from the U.S. Export-Import Bank, a Trump administration official familiar with the plan said. Lisa Bernhard has more.

Short Link: https://lseg.group/3LQH5J7

Video Transcript:

Shares of rare earth miners jumped on Monday after news that US President Donald Trump will launch a $12 billion strategic stockpile of critical minerals. The investment marks Washington's latest attempt to offset what policymakers view as Chinese manipulation of prices for lithium, nickel, rare earths, and other critical minerals, which has stymied American mining companies for years. Shares of USA Rare Earth rose as much as 16%, while Critical Metals Corp. gained more than 13%, and MP Materials added as much as 7%. Rare earth minerals are essential for items ranging from electric vehicles to high-tech weaponry. First reported by Bloomberg News, the venture called "Project Vault" will combine private funding with a $10 billion loan from the US Export-Import Bank. The aim is to acquire and stockpile minerals for automakers, technology companies, and other US manufacturers. A Trump Administration official said the President is set to meet Monday with General Motors CEO Mary Barra and mining billionaire Robert Friedland, who represent both users and producers of critical minerals. The White House did not immediately respond to a request for comment. Last month, a bipartisan group of US lawmakers introduced a bill to create a $2.5 billion stockpile of critical minerals, a move aimed at stabilizing market prices and encouraging domestic mining and refining.