Trump announces $120 billion critical mineral reserve project, with more than a dozen companies currently involved.

President Trump officially announced the establishment of a critical mineral reserve project worth $12 billion. Trump said on Monday at the White House that the reserve plan, called Project Vault, aims to "ensure that American businesses and workers are never harmed by any shortages." According to senior government officials who spoke to the media earlier, the plan will combine approximately $20 billion in private capital with a $100 billion loan from the Export-Import Bank of the United States, marking the first time for such a project in the American private sector. Standing behind Trump in the Oval Office, Export-Import Bank CEO John Jovanovic said that the loan would be the largest transaction in the bank's history, "more than double any previous one." Trump said, "Just as we have long had strategic oil reserves and national defense critical mineral reserves, we are now establishing this reserve for American industry so that we won't have any problems." Also present at the Oval Office event were General Motors CEO Mary Barra and mining billionaire Robert Friedland, representing producers and users of critical minerals. Over a dozen companies are currently participating in the project, including General Motors, Stellantis NV, Boeing, Corning, GE Vernova Inc., and Google under Alphabet Inc. Hartree Partners LP, Traxys North America LLC, and Mercuria Energy Group Ltd., three commodity trading companies, are expected to be responsible for sourcing raw materials to replenish the stock.