President of the United States Donald Trump announced plans to create a strategic reserve of critical minerals, as reported by Bloomberg.
In the initial phase, $12 billion is planned to be allocated for the implementation of this initiative. The goal of this program is to protect American manufacturers from potential supply disruptions and to reduce dependence on imports from China. The project, named Vault, implies that the U.S. government will purchase and store minerals necessary for automakers, technology companies, and other industries. This can be compared to the strategic petroleum reserve that already exists in the country. Special attention is given to elements such as gallium and cobalt.
As a result of the announcement regarding Washington's plans, shares of American companies engaged in the mining of rare earth elements have significantly increased.
