Trump’s $12 billion “Project Vault” aims to break Chinese dominance in rare earth elements, creating America’s first critical mineral stockpile for national security.
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EXCLUSIVE:IndustryexpertswarntheUnitedStatesis“onecrisisaway”fromlosingaccesstotherareearthelementsthatpowereverythingfromfighterjetstoelectricvehicles—avulnerabilityPresidentDonaldTrump’snew$12billion“ProjectVault”aimstoaddress.
Theinitiative,backedby$1.67billioninprivateseedmoneyanda$10billionloanfromtheExport-ImportBank,wouldcreateafederallysupportedstockpileofrareearthelementsandothercriticalminerals.TheU.S.currentlyimportsmuchofthosematerialsfromChina.
ExecutivesfromGraphiteOne,oneofthecountry’slargestcriticalmineraldevelopers,toldFoxNewsDigitaltheeffortcouldmarkaturningpointinthebattleoverChina’sdominanceofglobalsupplychains.
“TheChinesearewillingtoweaponizeaccessto…semiconductormaterialslikegalliumanduranium,”GraphiteOneadvisorDanMcGroartysaid.“Thentheytur
