President of the United States Donald Trump announced plans to create a strategic reserve of key minerals, as reported by Bloomberg.
In the initial phase, $12 billion will be allocated for these purposes. The White House aims to protect American manufacturers from supply disruptions and reduce dependence on imports from China. This project, named Vault, involves the procurement and storage of minerals necessary for automakers, technology companies, and other industries. Essentially, it will serve as an equivalent to the strategic oil reserve already held by the U.S. The focus is on elements such as cobalt and gallium.
After news of Washington's plans became known, shares of companies engaged in the extraction of rare earth elements in the U.S. significantly rose.
