Trump Launches $12B Critical Minerals Stockpile; Rare Earth Stocks Surge Pre-Market

The Trump administration is launching a $12 billion strategic stockpile for critical minerals to reduce U.S. reliance on China and shield manufacturers from supply shocks, Bloomberg reported on February 2, 2026. Dubbed “Project Vault,” the initiative combines $1.67 billion in private capital with a $10 billion loan from the U.S. Export-Import Bank to procure and store metals like gallium and cobalt for auto, tech, and aerospace firms. Shares of U.S. rare earth companies—including USA Rare Earth (USAR), Critical Metals (CRML), United States Antimony (UAMY), and NioCorp Developments (NB)—rose in pre-market trading. Over ten major corporations, including General Motors (GM), Boeing (BA), Google (GOOGL), and Corning (GLW), are participating. The program mimics the Strategic Petroleum Reserve but targets minerals essential for batteries, smartphones, and jet engines. The Ex-Im Bank’s board is set to vote on the 15-year loan—the largest in its history—on February 2.