Trump administration looks to create $12 billion critical mineral reserve

President Donald Trump is set to launch a multibillion-dollar strategic critical minerals stockpile to further reduce the United States’s reliance on China for rare earths and other metals crucial to developing artificial intelligence, batteries, jet engines, and smartphones.

The stockpile of minerals, which has been dubbed Project Vault, is expected to cost around $12 billion and use roughly $1.67 billion in private capital as well as a $10 billion loan from the U.S. Export-Import Bank.