""The new "Project Vault" critical minerals stockpile launched by the White House and the U.S. Export-Import Bank is "absolutely" needed, but it represents just the first step of many to break China's supply chain dominance of minerals, including rare earths, over several years to come, industry analysts said. The plans for the emergency national stockpile of certain critical minerals, announced Feb. 2, comes after the Trump administration already has taken""
""Is [Project Vault] needed? Absolutely," Boakye told Fortune. "Will it be effective? I think we need to wait and see. The initial signs are definitely promising, but the bottleneck is not just the mining and sourcing; it's also the processing. Even if the U.S. can stockpile many of these materials, how and who is going to do the processing depending on the end-use applications?""
Project Vault is an emergency stockpile launched by the White House and U.S. Export-Import Bank to secure critical minerals. Disruptions began during COVID-19, and a tariff trade war with China accelerated the weaponization of China’s dominance across mining, processing, and magnet manufacturing. Seventeen rare earths and other critical minerals are vital for military equipment, cars, high-powered computing, and data centers. Processing capacity is the primary bottleneck; stockpiling alone leaves unresolved questions about refining and end-use manufacturing. The stockpile constitutes an initial state-led industrial policy step intended to reduce Chinese supply chain control over several years.
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