Feb. 4 at 8:58 PM
$GORO On February 2, two days before Vance’s announcement, the White House launched Project Vault. Project Vault is a £12 billion critical minerals stockpile. £10 billion comes from the Export-Import Bank, the largest single loan in the bank’s history, with a 15-year term, and £1.67–£7 billion in private capital that was oversubscribed, meaning more companies wanted to participate than there was space available.
Participants include General Motors, Boeing, Stellantis, Corning, GE Vernova, and Google. Commodity trading firms Heartree Partners, Trafigura, and Mercuria are managing the physical logistics.