The Trump administration is moving to create what is being described as a strategic stockpile for rare earths and other critical minerals, branded “Project Vault,” with reported financing of around $12 billion, involving a major loan structure and private participation from large industrial users. This is a defensive move akin to a petroleum stockpile and designed explicitly to mitigate dependency on Beijing’s control.
Raw materials have become strategic geopolitical weapons and a determinant of sovereign power. Rare earth elements are not rare in the sense of scarcity, but they are rare in terms of reliable supply chains and processing…
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