• President Trump announces a $12 billion strategic minerals stockpile initiative.
• The project, called "Project Vault," aims to reduce U.S. reliance on Chinese imports.
• It involves a $10 billion loan from the Export-Import Bank and $1.7 billion in private capital.
• Participating companies include General Motors, Boeing, and Alphabet's Google.
• The initiative aims to stabilize supply chains for critical industries such as automotive and defense.

U.S. President Donald Trump is set to unveil a significant initiative aimed at reducing dependence on China for critical minerals, with an initial funding of $12 billion earmarked for the project, officially known as “Project Vault.” This stockpile is anticipated to include essential resources needed for high-tech sectors such as automotive, technology, and defense, according to Reuters and Channel News Asia.

The project will combine approximately $10 billion in loans from the U.S. Export-Import Bank (EXIM) with around $1.7 billion in private investments and aims to secure vital minerals such as lithium, cobalt, and nickel, which are critical for products ranging from electric vehicles to smartphones. Major companies involved in this initiative include General Motors, Boeing, and Alphabet's Google, indicating broad participation from key industry players, as reported by India Times and South China Morning Post.

The goal of Project Vault is not only to build a substantial stockpile but also to act as a buffer against supply chain disruptions and price volatility experienced due to China's control over these critical materials. The plan reflects the increasing urgency for the U.S. to secure its strategic resources, especially following China's recent export restrictions, which have amplified concerns regarding supply chain stability across various industries, according to CBS News and Channel News Asia.

Experts note that while this initiative represents a critical step towards bolstering the U.S. supply chain resilience, fully diversifying away from reliance on Chinese sources will take several years of concerted effort, particularly in establishing new mining and processing facilities, as indicated by Reuters and India Times.