The US government will launch a $12bn critical minerals stockpile as part of its efforts to counter Chinese dominance over key metals and support domestic manufacturers during shortages and emergencies.
The US Export-Import Bank (Exim) will provide $10bn in debt financing for the effort, named Project Vault, to build up domestic stores of “essential raw materials” across the US that can be tapped by manufacturers such as carmakers.
An additional $2bn will come from private capital.
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