Mercuria Backs US Mineral Reserve
Mercuria announced a 500 million dollar commitment to the US Project Vault initiative to secure critical mineral supplies. Swiss mining company Glencore was also selected as a founding partner. The move comes as China maintains tight control over global rare-earth refining and production.
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Commodities trader Mercuria committed $500 million to Project Vault on Wednesday afternoon, backing a United States strategic minerals reserve. The initiative aims to protect domestic industries from supply disruptions. It follows similar moves by other major firms during the United Nations General Assembly summit in New York.
