Project Vault: US Expands Strategic Minerals Stockpile and Equity Stakes to De-Risk Supply Chains
The US has launched “Project Vault,” a $12bn strategic minerals stockpile initiative combining private capital with a US Export-Import Bank loan, alongside an expanded pattern of federal equity stakes in critical-minerals and semiconductor assets. The strategy seeks to reduce reliance on external supply—especially China—but faces execution, timeline, and political-continuity risks as major projects mature late in the decade.