President Donald Trump is reportedly set to unveil a critical-minerals stockpile, under the name Project Vault, with a $12 billion seed money. It is likely to include $1.67 billion from private capital alongside a $10 billion loan from the U.S. Export-Import Bank.

Strategic Mineral Stockpile To Reduce China Reliance

Project Vault is aimed at protecting U.S. tech firms, automakers and other manufacturers from supply shock and reducing dependence on Chinese rare earth and minerals, reported Bloomberg on Monday.

Designed on the lines of the existing U.S. emergency oil stockpile, this initiative would focus on key minerals like cobalt and gallium, which are used in jet engines, batteries and other critical products such as Apple (NASDAQ:AAPL) iPhones. While the nation already has a critical mineral ...