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05.05.26 - 05:18
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Trump′s "Project Vault" Plans To Initially Buy Rare Earths From China (ZeroHedge)
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Trump's "Project Vault" Plans To Initially Buy Rare Earths From China
As we reported in February, the US Export-Import Bank's proposed rare earth stockpiling initiative would initially source critical minerals from anywhere in the world - including China, an official involved in the project revealed to Bloomberg. The $12 billion Project Vault would later shift to a replenishment model that prioritizes domestic production first, followed by allied nations and other sources as a last resort, executives including Ex-Im Chief Banking Officer Brian Greeley said lastt week, unveiling some of the first details publicly announced on the project.
Greeley spoke alongside representatives of Glencore Plc. and Hartree Partners LP, which will be among trading houses procuring materials for Vault. The project aims to build an immediate buffer against critical mineral supply shocks while using future purchases to send a stronger demand signal to US and friendly-nation producers.
Vault — ...
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