WASHINGTON: US President Donald Trump announced the creation of what he called the “US Strategic Critical Minerals Reserve, ” describing it as the first-ever civilian stockpile of critical minerals designed to protect American industry during supply shocks.
“We're announcing the creation of the US Strategic Critical Minerals Reserve, the first ever stockpile of critical minerals that you've been hearing so much about, ” Trump said on Monday during a signing event attended by Cabinet officials, lawmakers and business leaders, including General Motors CEO Mary Barra and Ivanhoe Mines founder Robert Friedland.
Trump said the initiative would be launched under a program “known as Project Vault” to prevent shortages from disrupting US manufacturers and workers. “Today, we're launching what will be known as Project Vault to ensure that American businesses and workers are never harmed by any shortage, ” he said.