US Critical Minerals Reserve to Close First Funding Round

Project Vault, the initiative by the United States to secure critical mineral reserves, is nearing its first funding milestone. John Jovanovic, President and Chairman of the U.S. Export-Import Bank (EXIM), announced in Lausanne, Switzerland, that the project will soon close its first funding tranche and begin assisting manufacturers with supply, processing, and storage challenges.

Originally announced in February by President Donald Trump, Project Vault aims to alleviate supply crunches for manufacturers that have historically relied heavily on supplies from China. Beyond simply stockpiling materials, the program is designed to address systemic market weaknesses, including capital shortages and a lack of creditworthy counterparties.