Standing in the Oval Office in February for the launch of “Project Vault”, mining billionaire Robert Friedland told Donald Trump the $12bn US minerals stockpile would be nothing short of transformational.
“I’m telling you on behalf of every miner I know, they are elated at the breakthroughs achieved here,” he said. “This is the first administration, with your support, where we’ve got hope.”
However, some mining companies are quietly concerned about the venture, warning it risks distortions and a “massive overhang” in commodities markets.
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